Friday, September 11, 2009

WEF ranks US among most economically unstable nations

The United States fared badly in a new assessment of world economies, with the financial crisis accentuating its weakness as one of the most economically unstable nations, the World Economic Forum said Tuesday.

In contrast with its overall ranking second only to Switzerland in the WEF's 2009 Global Competitiveness Report, the United States now placed 93rd among the 133 countries in terms of macroeconomic stability.

"The United States has built up large macro-economic imbalances over recent years," said the WEF, which hosts the annual Davos pow-wow of business and political leaders.

"Repeated fiscal deficits have led to burgeoning levels of public indebtedness, which are presently being exacerbated by significant stimulus spending," it added.

WEF ranks US among most economically unstable nations

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