World Bank head says U.S. debt crisis could be 'devastating ' for global economy . The IMF chief warns that the United States is on track to default on its debts in less than a year if it doesn't raise more money by July 2. The World Bank had prepared contingency plans to support countries if the U.S. debt crisis further roiled global markets , Kim said . Kim said those involved in the political wrangling needed to remember it would hit the 'little guys ' hard .
World Bank head says U.S. debt crisis could be 'devastating ' for global economy . The IMF chief warns that the United States is on track to default on its debts in less than a year if it doesn't raise more money by July 2. Kim said those involved in the political wrangling needed to remember it would hit the 'little guys ' hard .