Despite an elegant solution that involved no new commitments of resources, the US Congress has refused to take up a long-delayed funding proposal for the International Monetary Fund.
The International Monetary Fund is widely expected to raise its outlook for the UK this week, nudging up the country's growth forecasts by more than for any other major economy.
It was impossible to find anybody at last week's meeting of the International Monetary Fund willing to believe that the US will actually default on its debts.
Shares and oil prices rose strongly on Thursday amid hopes that policymakers in Washington were buckling under the global pressure for them to settle their differences and prevent a US debt default.
The latest World Economic Outlook released by the IMF on Wednesday was a bit of a sobering document.
The International Monetary Fund is urging George Osborne to boost spending on Britain's infrastructure despite revising upwards its forecast for UK growth by more than for any other developed country.
The head of the International Monetary Fund, Christine Lagarde, has urged America's warring politicians to settle their differences as she warned that an escalation of the budget row would harm the entire global economy.
Britain will grow faster this year than previously expected according to the International Monetary Fund (IMF), in the first major upgrade of the UK's economic outlook for almost three years.
The International Monetary Fund said on Friday that an "excessively rapid and ill-designed" deficit reduction plan had hampered the "tepid" recovery in the US economy.