Press Release No. 13/406

Press Release: Statement by IMF Managing Director Christine Lagarde on U.S. Debt Ceiling Action

October 16, 2013

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement today:

“The U.S. Congress has taken an important and necessary step by ending the partial shutdown of the federal government and lifting the debt ceiling, which enables the government to continue its operations without disruption for the next few months while budget negotiations continue to unfold.

“Looking forward, it will be essential to reduce uncertainty surrounding the conduct of fiscal policy by raising the debt limit in a more durable manner. We also continue to encourage the U.S. to approve a budget for 2014 and replace the sequester with gradually phased-in measures that would not harm the recovery, and to adopt a balanced and comprehensive medium-term fiscal plan.”