U.S. Treasury Dismisses IMF Debt Warning and Past Forecasting Accuracy
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Newly appointed Treasury counselor David Zervos dismissed an IMF warning delivered by Managing Director Kristalina Georgieva in Bangkok regarding the U.S. federal debt exceeding $40 trillion. Zervos criticized the IMF's historical forecasting record, pointing to past miscalculations during the 2008 financial crisis, the 1997 Southeast Asia collapse, the 2022 Russia sanctions, and Argentina's $57 billion bailout.
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