IMF says will raise U.S. economic growth forecast

The International Monetary Fund predicts the U.S. economy would expand at a faster pace next year, given positive economic data and some signs of compromise in Congress, the head of the Washington-based lender said on Sunday. IMF Managing Director Christine Lagarde also praised the U.S. Federal Reserve’s communication of its decision last week to start scaling back its massive monetary stimulus. A U.S. Congress, deeply divided along party lines, did manage to pass a limited, two-year budget deal last week to trim some planned spending cuts and reduce the risk of a government shutdown. President Barack Obama’s administration has warned that the government could run out of borrowing authority needed to pay its bills as soon as February if lawmakers do not swiftly raise the debt ceiling.


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