• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

The IMF slams the US with urgent warnings over its debt, deficits, and trade barriers

1 year ago
in Business, Economy, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
45
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Joe Jackson Warns BoG’s 10% NPL Target Could Squeeze SME Lending

SOEs Record 28.3% Revenue Growth But Post GHS 9.67bn Net Loss in 2024 – SIGA Report 

Three SOEs Make First Dividend Payment of GHS 29.3m in 30 years

The IMF slams the US with urgent warnings over its debt, deficits, and trade barriers

The US was the target of pointed criticism from the International Monetary Fund last week, with the organization calling out everything from Washington’s trade policy to its deficits.

In its annual evaluation, the IMF touted a “remarkable performance” in the world’s largest economy and expects further growth to come.

However, some issues are becoming too pressing to ignore, it said.

“The fiscal deficit is too large, creating a sustained upward trajectory for the public debt-GDP ratio,” the summary said. “The ongoing expansion of trade restrictions and insufficient progress in addressing the vulnerabilities highlighted by the 2023 bank failures both pose important downside risks.”

Chronic deficits are leading toward a debt-to-GDP ratio of 140% by 2032, IMF said, a situation that needs to be addressed urgently. By the US’ own estimates, the national debt will balloon to $56.9 trillion by 2034, a steep increase from earlier projections.

In an era of higher interest rates, alarms have started ringing over fiscal stability as Washington will need to finance its debts at elevated borrowing costs. Some of Wall Street’s heaviest hitters have issued warnings of eventual fallout.

To counter this, the IMF pushed for policymakers to find efficiencies in discretionary spending and to raise indirect and income taxes — including on those earning under $400,000 a year.

What’s more, partisan debt ceiling standoffs need to end, it said. The worst instance occurred 2023, when Republicans and Democrats brought the US close to default over funding disagreements.

“These create systemic risks to the U.S. and global economy that are entirely avoidable. Institutional changes should be designed to ensure that, once appropriations are approved, the corresponding space is automatically added to the debt ceiling,” the report said.

But threats to financial stability don’t end there. Domestically, “concrete actions have been lacking” when it comes to strengthening US banking safety, especially in light of 2023’s brief crisis sparked by the failure of Silicon Valley Bank.

The US needs to pursue tougher bank supervision, and lower the pool of uninsured deposits, the IMF said.

While the fund also suggested a need for the US to implement the Basel III regulatory agreement to do this, the proposal has been widely unpopular in the industry.

The legislation would apply larger liquidity requirements on big dealers, which banks have argued as a cut back to their ability to invest.

Meanwhile, Washington’s increasingly protectionist approach to trade is a risk to US and global growth, the IMF said.

The criticism comes soon after President Biden issued new tariffs on specific advanced manufacturing products from China in an effort to boost the US green energy industry.

But the practice goes further back, when former President Trump set off a trade war with Beijing. If the Republican candidate wins the White House again, he has promised to apply universal tariffs on all imports, which economists have warned would be massively inflationary.

“The U.S. should unwind obstacles to free trade and seek instead to bolster competitiveness through investments in worker training, apprenticeships, and infrastructure,” the IMF wrote.

Tags: and trade barriersDebtdeficitsIMFThe IMF slams the US with urgent warnings over its debtUS
No Result
View All Result

Highlights

Gov’t Misses T-Bills Target by GHS 3.38bn as Investor Appetite for Debt Shifts to BoG Securities

Tough but Right: Will BoG’s Currency Crackdown & NPL Clean-Up Fix the Economy or Freeze Growth?

Equities Retreat as MTN Drags Composite Index Lower

Senegal’s Rating Downgrade: Credit Agencies are Punishing Countries That Don’t Check Their Numbers

Nigeria’s Gas Flaring Falls by 7.16% in July 2025 as Gas Production Hits 7.59bscfd 

Ukraine Launches Tender for Major Lithium Deposit

Trending

Banking & Finance

Joe Jackson Warns BoG’s 10% NPL Target Could Squeeze SME Lending

September 1, 2025

 Joe Jackson Warns BoG’s 10% NPL Target Could Squeeze SME Lending Chief Executive Officer of Dalex Finance,...

SOEs Record 28.3% Revenue Growth But Post GHS 9.67bn Net Loss in 2024 – SIGA Report 

September 1, 2025

Three SOEs Make First Dividend Payment of GHS 29.3m in 30 years

September 1, 2025

Gov’t Misses T-Bills Target by GHS 3.38bn as Investor Appetite for Debt Shifts to BoG Securities

September 1, 2025

Tough but Right: Will BoG’s Currency Crackdown & NPL Clean-Up Fix the Economy or Freeze Growth?

September 1, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.