The IMF expresses concern about the "serious repercussions" on the world economy. Without an agreement to raise the debt ceiling, the U.S.
could default as early as June 1. Democrats and Republicans in Congress are engaged in a tug-of-war over raising the US debt ceiling. Former Republican President Donald Trump, on Wednesday urged Republican elected officials to "cause a default", if the Democrats do not concede "massive cuts" The IMF considered that only flirting with default, pushing negotiations to their limits "can lead to significant economic costs"