IMF Urges US to Fight Deficit by Raising Taxes, Reforming Entitlements

IMF Managing Director Kristalina Georgieva participates in a town hall discussion with civil society organizations at IMF headquarters in Washington on Oct. 10, 2022. Drew Angerer/Getty Images

International Monetary Fund (IMF) Managing Director Kristalina Georgieva urged U.S. policymakers to raise tax revenue and cut spending now rather than wait until the next economic crisis forces them to take action against the widening national deficit.

“Now, when there is a strong economy, it is the time to arrest and reverse this trend,” the IMF chief told reporters at a press conference in Washington, D.C. on June 27.