IMF warns on U.S. debt ceiling danger

Oct 03, 2013, 10:53 AM EDT
International Monetary Fund (IMF) Managing Director Christine Lagarde talks about the upcoming IMF and World Bank meetings at the Jack Morton Auditorium at George Washington University in Washington, October 3, 2013.
REUTERS/Larry Downing

Failure to raise the U.S.'s $16.7 trillion debt ceiling would threaten the global economy, Christine Lagarde, managing director of the International Monetary Fund, has warned. “The government shutdown is bad enough, but failure to raise the debt ceiling would be far worse,” she said in a speech at George Washington University. "It is ‘mission-critical’ that this be resolved as soon as possible.”