The U.N. debt agency says the United States should “leave the IMF” and ditch the Trans-Pacific Partnership (TPP) agreement, saying the deal would only “provide the financial cover for countries to increase their debt levels.”
The agency said the U,S.
would still “be able to provide for fiscal sustainability and growth” under the TPP, but would not be able to guarantee its citizens would not fall into debt.
“The U.P. would have to find alternative ways of financing the U to make up for the lost funding of the IMF,” the IMF said in its latest assessment of the TPP.
“This would be costly and could result in a deepening of the fiscal crisis in the United Kingdom and the Us.”
The U, however, still “may be able” to negotiate a deal with the Ulsan Government to resolve their bilateral dispute with China over the South China Sea, according to the IMF.
Under the TPP agreement, the U and 11 other Pacific Rim countries would get a $400 billion loan, a payment that would be paid back over a decade.
Under the IMF’s assessment, the TPP would leave the U with an annual debt of $1.1 trillion, and the United states would be forced to repay a total of $6.1 billion in loans.
has said it will renegotiate the deal and return to the Trans Pacific Partnership.
The deal would be the most ambitious trade agreement since NAFTA.