WASHINGTON: On Thursday, the International Monetary Fund (IMF) said that a U.S. debt default brought on by the failure to raise the country’s debt ceiling could have “very serious repercussions” for the global economy. According to a Reuters report, spokesperson Julie Kozack of the IMF said that the U.S. authorities need to stay vigilant with regard to the banking sector in the country, including regional banks. Kozack elaborated that while the IMF cannot quantify the impact of a U.S. default, it is likely that higher interest rates could result from it causing instability across the global economy.  Pilot Suspended For Allowing Friend Into Cockpit Pakistan team will travel to India if Rohit Sharma play the Asia Cup in Pakistan: Najam Sethi Qatari Prime Minister Visits Kandahar, Meets Afghan Officials Hina Rabbani Khar Calls on Afghan Leaders to Address TTP Issue In April, the IMF forecast a global GDP growth of 2.8 percent in 2023, but indicated that turmoil in the financial market could “slam output growth back to 1.0%”. According to Kozack, the IMF want to “avoid those severe repercussions”.  The spokesperson added that the IMF is “calling on all of the parties to come together, reach consensus and resolve … Continue reading US Default could have ‘Serious Repercussions’ on Global Economy: IMF