The president of the World Bank on Saturday warned the United States was just "days away" from causing a global economic disaster unless politicians come up with a plan to raise the nation's debt limit and avoid default. "We're now five days away from a very dangerous moment. I urge US policymakers to quickly come to a resolution before they reach the debt ceiling deadline.
Inaction could result in interest rates rising, confidence falling and growth slowing," World Bank President Jim Yong Kim said in a briefing following a meeting of the bank's Development Committee. "If this comes to pass, it could be a disastrous event for the developing world, and that will in turn great.