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Borges Says IMF Is Concerned About Fiscal Situation in the U.S.

Oct. 5 (Bloomberg) -- Antonio Borges, the International Monetary Fund’s European department head, said while the problems with the U.S.’s fiscal situation appear to have abated, the fund still has concerns.

“We are quite concerned about the situation in the U.S.” over the government’s finances, Borges said at a press conference in Brussels today. “It looks like it’s gone away, but it has left some marks in terms of investor confidence.”

“We think that the storm is brewing and therefore this is therefore a call for action to prevent it becoming a very dangerous storm,” he said, referring to government finances around the world.

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To contact the reporter on this story: Scott Hamilton in London at shamilton8@bloomberg.net

To contact the editor responsible for this story: Svenja O’Donnell at sodonnell@bloomberg.net

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