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World Business Report: Debt deal aftermath: US licks its wounds

17/10/2013

Debt deal aftermath: US licks its wounds

BBC World Service - World Business Report, Debt deal aftermath: US licks its wounds

The shutdown is finally over, but President Obama says it's seriously wounded the economy

The US finally gets back to normal after a last-minute deal extends the country's debt ceiling and ends the government shutdown, but how much damage has already been done?

With a US debt deal finally agreed and government employees going back to work, we assess how much damage the whole episode has done to the US economy and its reputation. Rob Young is in Jackson, Mississippi, talking to government employees in the US state that's most dependent on federal funding. Meanwhile the head of the International Monetary Fund, Christine Lagarde, calls on America to find a long-term solution to its budget problems, because the last-minute deal only funds the government until mid-January. We speak to David Stockton, a former chief economist at the US central bank, about the risk of another shutdown in a few months' time. And Matt Davies is in Ghana, where, despite a growing economy, the issue of youth unemployment is continuing to raise serious concerns.

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