October 11, 2013 8:26 PM

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Fin Mins, central bank chiefs of G20 urge US to work swiftly to avoid debt default<br/>

Finance Ministers and central bank chiefs of the Group of 20 nations are urging the United States to work swiftly to avoid a debt default. The first day of the two-day G 20 meeting in Washington concentrated on the global economy. Participants expressed views on the possible impact of the US fiscal problems. The US budget stalemate has caused a partial government shutdown and could cause the country to default on its debt obligations if its borrowing limit is not raised by October 17th.Japanese Finance Minister Taro Aso said a US default could gravely affect the global economy and financial markets and called for a swift resolution to the stalemate.Other participants expressed similar views.

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