The debt ceiling issue in the U.S. was a long-term reason for the tough talks in the U.S. Congress. Finally, the result of negotiations was an interim agreement. The Republican and the Democratic Parties raised the debt limit hours away from a default. This legislation allows to pay the U.S. government bills until January 15. The world was watching the developments in Washington with bated breath. And at the last moment, the U.S. lawmakers managed to conclude a deal that puts off a default for the next few months, till February 7. But the time flies, and the International Monetary Fund requires the debt ceiling to be increased in a more durable manner as well as to approve a 2014 fiscal year budget. Christine Lagarde has told the U.S. President and Congress to “reduce ambiguity” in such a delicate matter. “Looking forward, 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. Besides the temporary measures relating to the public debt, the head of the IMF paid special attention to a government budget, a document plan of public revenue and expenditure. In her opinion, it is necessary “to replace the sequester with gradually phased-in measures that would not harm the recovery” as soon as possible. These steps should ensure the best use of the government finances. The time will reveal how efficient the appeal has been.
