PANAMA CITY Oct 18 A deal averting the risk of
default in the United States this week does not offer a real
solution to problems posed by U.S. disputes over debt, the head
of the Organisation for Economic Co-operation and Development
(OECD) said on Friday.
Global markets were on tenterhooks earlier this month
awaiting the outcome of a standoff between Democrats and
Republicans in the U.S. Congress over funding for President
Barack Obama's signature healthcare law known as Obamacare.
The last minute accord on Wednesday staved off the threat of
potential default, but only funds the government until Jan. 15
and raises the debt ceiling until Feb. 7, so Americans face the
possibility of another bitter budget fight early next year.
"We're all going to have a very difficult December, a very
difficult January, and a difficult February," Jose Angel Gurria,
secretary general of the OECD, told reporters in Panama City.
"Because there were really no solutions...there was no
far-reaching decision," said Gurria, an ex-Mexican finance
Frank de Lima, the finance minister of Panama, which uses
the U.S. dollar, said he agreed with Gurria, and that Congress
had only succeeded in "kick(ing) the can forward."