ECONOMY
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IMF Chief Urges Further Deficit Cuts: The United States must slash its government budget deficit further and possibly raise interest rates again to help prolong its economic expansion and aid the dollar, Michel Camdessus said. At a news conference to mark the 50th anniversary of the founding of the International Monetary Fund, Camdessus also suggested that Europe and Japan consider cutting their rates to allow their budding recoveries to flower. What’s needed “is close coordination of efforts among all of these key countries,” the IMF managing director said.
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