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IMF Says U.S. Deficit 'Is Global Threat'.
Knight Ridder/Tribune Business News, April, 2004
By Ruth Sunderland, Daily Mail, London Knight Ridder/Tribune Business News
Apr. 22--The International Monetary Fund sounded the alarm over the record US budget gap, saying that unchecked government red ink there could push up interest rates across the world.
Its warning came as Chancellor Gordon Brown -- who is under pressure to curb burgeoning public sector borrowing in the UK -- pledged to take a tough line on spending.
In a speech to the British Chambers of Commerce, he said the government would lower the rate of spending growth while meeting its commitments to health and education. He said growth would slow to an aver-By Ruth Sunderland age of 2.5 percent between 2006 and 2008, from 4 percent in the four years to 2004.
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