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IMF urges US to lift debt cap promptly to cut uncertainty

The International Monetary Fund (IMF) said on Thursday that the United States should strengthen economic confidence by promptly increasing its debt ceiling, as a fresh battle looms in Congress over the issue.

WASHINGTON: The International Monetary Fund (IMF) said on Thursday that the United States should strengthen economic confidence by promptly increasing its debt ceiling, as a fresh battle looms in Congress over the issue.

"It's essential to reduce uncertainty by raising the debt limit promptly and in a durable manner," said IMF spokesman Gerry Rice.

"The US economy has a lot of things going in its favour right now," Rice said, pointing to strengthening growth and job creation, and agreement on a new budget.

"The last thing the US economy needs right now is another confidence shock such as a prolonged debate about whether the US will honour its debt obligations," he said.

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