The US dollar’s status as the dominant global currency is at risk of being eroded because of mounting government debt, according to Zhu Min, former senior executive with the International Monetary Fund (IMF).
His warning comes as the United States is expected to double down on its fiscal stimulus measures to soothe the economic fallout from the Covid-19 pandemic. Congress is considering a new round of relief that is likely to cost at least $1 trillion on top of the more than $2 trillion passed earlier this year.
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