A scenario impact of US’s sovereign debt default on the rest of the world

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Editor’s Reflection: Chartered Institute of Development Finance

Development Finance Agenda, 2023, vol. 8, issue 6, 3

Abstract: Even though the probability of a US’s sovereign debt default is insignificant, the risks associated with this probability is highly significant and will be very costly to the rest of the world. Every year, the US Congress and White House play this dangerous game of roulette with each holding the other to ransom in efforts, designed, to extract as many political concessions as possible. This political drama is annually acted between the two main parties- the Republicans and Democrats during times when no single party controls all the three spheres of government. Sadly, this political circus does have real life consequences for the rest of the world.

Date: 2023
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