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IMF chief: US to avoid every default

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Recently, the world was closely watching the US national debt ceiling saga. However, many believed that the country would avert a debt limit breach. At the Qatar Economic Forum in Doha, Qatar, International Monetary Fund (IMF) managing director Kristalina Georgieva stressed she was confident the United States would avoid debt default. "History tells us that the US would wrestle with this notion of default... but come the 11th hour it gets resolved and I have confidence we will see that play again," Georgieva said. Being one of the world’s largest economies, the US managed to dodge national debt default. Meanwhile, some US policymakers, including House Speaker Kevin McCarthy, say that the country found itself on the verge of default due to US President Joe Biden. According to McCarthy, the US leader was making no effort to resolve the situation surrounding the national debt, and his inaction could lead the country to the first default in history.

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