Click for St. Louis, Missouri Forecast

// a href = ./ // St Louis News, Weather, Sports, The Big 550 AM, St Louis Traffic, Breaking News in St Louis

Online pharmacy:fesmag.com/tem

Have you a sex problem? Please visit our site:fesmag.com/medic

 
 
 
Thursday, 17 October 2013 01:13

Relief around world as US avoids debt default

   BEIJING (AP) — The International Monetary Fund appealed Thursday to Washington for more stable management of the nation's finances as Asian stock markets rose after U.S. leaders agreed to avoid a default and end a 16-day government shutdown.

   With only hours to spare until the $16.7 trillion debt limit was reached, Congress passed and sent a waiting President Barack Obama legislation late Wednesday night to allow more borrowing and reopen government agencies.

   "World heaves sigh of relief as U.S. barely averts debt default," said the Times of India newspaper in a headline.

   IMF managing director Christine Lagarde welcomed the deal but said the shaky American economy needs more stable long-term finances. The deal only permits the Treasury to borrow normally through Feb. 7 and fund the government through Jan. 15.

   "It will be essential to reduce uncertainty surrounding the conduct of fiscal policy by raising the debt limit in a more durable manner," Lagarde said in a statement.

   The Tokyo stock market, the region's heavyweight, gained as much as 1.1 percent. Markets in China, Hong Kong and South Korea also rebounded from losses.

   China and Japan, which each own more than $1 trillion of Treasury securities, appealed earlier to Washington for a quick settlement. There was no indication whether either government had altered its debt holdings.

   China's official Xinhua News Agency had accused Washington of jeopardizing other countries' dollar-denominated assets. It called for "building a de-Americanized world," though analysts say global financial markets have few alternatives to the dollar and U.S. government debt for trading and holding currency reserves.

   Asian companies and investors had expressed confidence the United States would avoid a default. But had sold Treasurys to avoid possible losses if Washington delayed repayment. Others put off buying stocks that might be exposed to a U.S. downturn.

Published in National News

Latest News

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
Prev Next
MEDICAL POT MEASURE COULD BOOST FLA. DEMOCRATS

MEDICAL POT MEASURE COULD BOOST FLA. DEMOCRATS

MIAMI (AP) -- Tied to an unpopular president and his signature health care law, Democrats in the nation's largest swing state see medical marijuana as a potential antidote to po...

ROBERTS REFUSES TO GRANT OBAMACARE EMERGENCY STAY

ROBERTS REFUSES TO GRANT OBAMACARE EMERGENCY STAY

WASHINGTON (AP) -- The Supreme Court has refused a group of doctors' request to block implementation of the nation's new health care law. Chief Justice John Roberts turned a...

First lady wants people to drink more plain water

First lady wants people to drink more plain water

   WASHINGTON (AP) — Michelle Obama has pushed America to eat healthier and to exercise more. Now she says we should "drink up" too. As in plain water. And as in more of it.    ...

TO EASE SHORTAGE OF ORGANS, GROW THEM IN A LAB?

TO EASE SHORTAGE OF ORGANS, GROW THEM IN A LAB?

NEW YORK (AP) -- By the time 10-year-old Sarah Murnaghan finally got a lung transplant last week, she'd been waiting for months, and her parents had sued to give her a better shot ...

FIRST LADY CALLS SUMMIT ON FOOD MARKETING

FIRST LADY CALLS SUMMIT ON FOOD MARKETING

WASHINGTON (AP) -- Michelle Obama wants food makers and entertainment companies to spend less time advertising sweet and salty foods to kids and more time promoting healthier optio...

FDA WANTS CANCER WARNINGS ON TANNING BEDS

FDA WANTS CANCER WARNINGS ON TANNING BEDS

WASHINGTON (AP) -- Indoor tanning beds would come with new warnings about the risk of cancer and be subject to more stringent federal oversight under a proposal unveiled Monday by ...

Officials urge parents to get kids vaccinated

Officials urge parents to get kids vaccinated

   SPRINGFILED, IL (AP) - State health officials are urging parents to make sure their children have received all their recommended vaccinations.    The Illinois Department of Pub...

© 2013 KTRS All Rights Reserved