IMF tells US to raise taxes to tackle debt despite robust growth

The International Monetary Fund on Thursday called on the US to raise taxes to curb rising debt levels while applauding “robust, dynamic” growth in the world’s largest economy and progress toward bringing inflation under control.

The IMF said in a closing statement for its “Article IV” review of US economic policies that high deficits and debt “create a growing risk to the US and global economy, potentially feeding into higher fiscal financing costs and a growing risk to the smooth rollover of maturing obligations.”