×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: IMF | Chief | Dollar | Debt

IMF Chief Warns on Dollar Decline if No Debt Deal

Friday, 29 July 2011 08:10 AM

Failure by the United States to raise the debt ceiling by an Aug. 2 deadline could lead to a fall in the value of the dollar and raise "doubts" among those using it as a reserve currency, the head of the IMF said.

"It would probably entail a decline of the dollar relative to other currencies, and probably doubts in the mind of those people who reserve currencies as to whether the dollar is effectively the ultimate and prime currency of reserve," IMF Managing Director Christine Lagarde told PBS NewsHour in an interview.

Lagarde, a former French finance minister, said it was difficult to predict what the market fallout would be if the U.S. did not reach an agreement and the country defaulted.

"There are so many counterparties that are invested in U.S. Treasury funds, it would be very difficult and very dramatic," she added.

© 2022 Thomson/Reuters. All rights reserved.


FinanceNews
Failure by the United States to raise the debt ceiling by an Aug. 2 deadline could lead to a fall in the value of the dollar and raise doubts among those using it as a reserve currency, the head of the IMF said. It would probably entail a decline of the dollar relative to...
IMF,Chief,Dollar,Debt
145
2011-10-29
Friday, 29 July 2011 08:10 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved