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

Boone County Hires Lawyers In Ryan Ferguson Civil Right…

COLUMBIA, Mo. (AP) - A central Missouri county has hired four attorneys to help defend itself and three employees named in a lawsuit filed on behalf of a man whose murder convic...

Jumping Jacks May Become Official State Exercise

 JEFFERSON CITY, Mo. (AP) - Missouri lawmakers are considering official designation for the jumping jack.    A bill is proposing to make the jumping jack ...

St. Charles Officer On Leave After Deadly Shooting

ST. CHARLES, Mo. (AP) - A man is dead after he was shot by police in St. Charles. St. Charles police went to a home Wednesday night after neighbors complained the man was th...

Pine Lawn Drug Bust Nets Pot-Filled Cookies and Candy

St. Louis, MO  --  Two suspects are jailed in Pine Lawn after a routine traffic stop turned into a drug bust.     Fox2 News reports that a man and a ...

© 2013 KTRS All Rights Reserved