Pressure on US at global economy meetings

US under pressure to resolve debt impasse as global economic meetings end

Associated Press
World finance officials focus on global risks
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Ben Bernanke, chairman of the Federal Reserve, reads a newspaper before a meeting of the IMFC, during the World Bank/IMF Annual Meetings at IMF headquarters, Saturday, Oct. 12, 2013, in Washington. World finance officials prepared to wrap up three days of meetings in Washington, where fretting about the risk of an unprecedented U.S. debt default overshadowed myriad worries about a shaky global economic recovery. (AP Photo/Alex Brandon)

WASHINGTON (AP) -- World finance officials are keeping pressure on the United States to resolve a troubling budget stalemate.

The impasse in Washington is threatening a market-rattling default on U.S. debt that would seriously threaten the global economy.

The World Bank and the International Monetary Fund are wrapping up three days of talks.

The IMF's policy-setting committee says the U.S. needs to take "urgent action" to address the stalemate.

America's borrowing authority is set to lapse on Thursday.

Financial officials are hopeful the crisis will settled in time.

Mario Draghi, the head of the European Central Bank, says he thinks it's "unthinkable that an agreement won't be found."

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