World Bank warns of risks from US shut down

Written By Unknown on Minggu, 13 Oktober 2013 | 22.40

The World Bank is warning of a disaster for the developing world if politicians in the US cannot reach an agreement to increase the government's borrowing limit by next Thursday's deadline.

World Bank president Jim Yong Kim says there is a danger of rising interest rates and slower growth that he says would affect the global economy.

President Barack Obama has been meeting Senate Democrat leaders at the White House to discusss the budget stalemate, which has seen thousands of government workers put on unpaid leave.

Republicans have refused to approve a budget unless the president's healthcare law is delayed.

Officials say up to 15,000 private sector workers have been laid-off since the shut down.

Apart from some government services, the dispute has shut many tourist attractions and national parks. 


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