IMF appeals US parties to avoid government shutdown
On Thursday, the International Monetary Fund (IMF) expressed concerns over the potential shutdown of the U.S. government, emphasizing that this situation presents an "unnecessary threat" to the nation's economy. The IMF called upon the involved parties to come to a consensus regarding the ongoing funding of the federal government.
To avert the furloughs of hundreds of thousands of federal workers and prevent a cessation of various services, including the release of economic data and the provision of nutrition benefits, Congress must enact legislation that is acceptable to Democratic President Joe Biden before midnight on Saturday (0400 GMT on Sunday). This marks the fourth occurrence of such a situation in the past decade.
A group of far-right members within the House of Representatives, led by House Republicans, has opposed the spending levels designated for fiscal year 2024. These spending levels were originally established in a deal brokered by House Minority Leader Kevin McCarthy with President Joe Biden back in May. The opposition arises within the chamber where Republicans hold a majority with a margin of 221-212.