U.S. was okay with being singled out in G20 statement: official

Reuters

WASHINGTON (Reuters) - WASHINGTON, Oct 11 (Reuters) - The United States felt it appropriate to mention in the Group of 20 communique that it must quickly resolve a looming fiscal crisis, a senior U.S. Treasury official said on Friday.

The communique released earlier in the day singled out the United States as needing "to take urgent action to address short-term fiscal uncertainties."

U.S. officials thought this was warranted because they agree it is imperative for the United States to raise a cap on government borrowing, the official said.

If Congress and the Obama administration don't reach a deal soon to raise America's $16.7 trillion cap on government borrowing, the country could begin defaulting on its obligations by the end of the month.

The two-day G20 meeting, which concluded on Friday, was dominated by concerns over America's political crisis.

(Reporting by Jason Lange; Editing by Andrea Ricci)

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