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Article updated: 10/13/2013 6:18 PM

Hope remains for global recovery beyond US impasse

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Federal Reserve Chairman Ben Bernanke, left, leaves after a bi-lateral meeting Sunday with the financial delegation from India at the International Monetary Fund in Washington. Finance ministers and central bank officials from the Group of 20 nations are in Washington for weekend meetings of the 188-nation International Monetary Fund and its sister lending organization, the World Bank.

Associated Press

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Jacob Lew, left, U.S. Secretary of the Treasury, and Shri P. Chidambaram, the Finance Minister for India, leave after their bi-lateral meeting Sunday at the International Monetary Fund in Washington. Finance ministers and central bank officials from the Group of 20 nations are in Washington for weekend meetings of the 188-nation International Monetary Fund and its sister lending organization, the World Bank.

Associated Press

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Worries about a possible U.S. debt default cast a pall over weekend meetings of global financial leaders in Washington. But they ended with some hope over signs that the U.S. and European economies are pulling out of long slumps. U.S. Treasury Secretary Jacob Lew has warned that he will exhaust his borrowing authority Thursday and the government will face the prospect of defaulting on its debt unless Congress raises the $16.7 trillion borrowing limit. "We are now five days away from a very dangerous moment," World Bank President Jim Yong Kim warned at the closing news conference on Saturday.
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    • Federal Reserve Chairman Ben Bernanke, left, leaves after a bi-lateral meeting Sunday with the financial delegation from India at the International Monetary Fund in Washington. Finance ministers and central bank officials from the Group of 20 nations are in Washington for weekend meetings of the 188-nation International Monetary Fund and its sister lending organization, the World Bank.
    • Jacob Lew, left, U.S. Secretary of the Treasury, and Shri P. Chidambaram, the Finance Minister for India, leave after their bi-lateral meeting Sunday at the International Monetary Fund in Washington. Finance ministers and central bank officials from the Group of 20 nations are in Washington for weekend meetings of the 188-nation International Monetary Fund and its sister lending organization, the World Bank.
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