IMF: America will not default on debt repayment, we do not ‎expect a rapid shift from using dollar reserves

International Monetary Fund Managing Director Kristalina Georgieva said on Wednesday she was confident the United States would avoid a debt default.

Georgieva said during the Qatar Economic Forum organized by Bloomberg, “History tells us that the United States will struggle with the idea of default … but it reaches a solution at the last moment, and I have confidence that we will see that again,” adding that she hopes that wisdom will prevail.

In another context, Georgieva said that she does not expect a rapid shift in US dollar reserves

In response to a question related to the shift in the use of the dollar in the world, Georgieva said, “We do not expect a rapid shift in reserves, because the reason for using the dollar as a reserve currency is the strength of the US economy and the depth of its capital markets.”

“It is not time to say goodbye to your dollars,” she added during the Qatar Economic Forum organized by Bloomberg.