"If this comes to pass, it could be a disastrous event for the developing world, and that will in turn greatly hurt developed economies as well," he said.
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"We're now five days away from a very dangerous moment. I urge U.S. policymakers to quickly come to a resolution before they reach the debt ceiling deadline...Inaction could result in interest rates rising, confidence falling and growth slowing," World Bank President Jim Yong Kim said in a briefing following a meeting of the bank's Development Committee.
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