Siluanov does not believe in a US default due to the operation of the printing press – Kommersant

Russian Finance Minister Anton Siluanov said he does not expect a US default, as the country prints money. In his opinion, the situation with the US public debt is the result of an ill-conceived economic policy.

Mr. Siluanov explained that “the situation with the unwinding of the history of the default” occurs almost every year. “Default, probably, is unlikely for America to allow, because it itself prints money, and will print as much as it needs. The question is in political regulation, can the deficit and debt increase above certain limits, ”he said in an interview with the CGTN television channel (quoted by TASS).

Anton Siluanov added that as a result, the key countries in the global financial market “played out to the point that they led to an increase in inflation around the world, printing money without measure.”

US Treasury Secretary declared about the risk of default in early summer if the US Congress does not raise the national debt limit. Negotiations between the White House and the Republican Party, which controls the House of Representatives in Congress, lasted several weeks. Republicans pushed for budget cuts. May 27 White House and Republicans reached principal agreements to increase the limit. May 29 US President Joe Biden announced on the final agreement on the public debt.

More details – in the material “Kommersant” “Borrow more, spend less”.

Olesya Pavlenko