The International Monetary Fund said in a report Thursday that the U.S. economy “has turned in a remarkable performance over the past few years,” but added that there is now “a pressing need to reverse the ongoing increase in public debt-GDP ratio.”
“The U.S. is only the G-20 economy whose GDP level now exceeds the pre-pandemic level. This is good for the U.S. and it is good for the global economy,” IMF Managing Director Kristalina Georgieva told reporters at a news conference Thursday.
She also praised the fiscal legislation enacted in 2021 and 2022. “This legislation will have a lasting positive impact in reshaping the U.S. economy,” she said. “It needs to be complemented, however, with actions to put public debt-to-GDP on a decisive downward path through a broad range of policies that include raising tax revenues, addressing structural imbalances in the entitlement programs and looking for savings in…
