IMF chief calls on US to resolve deficit

The U.S. budget deficit is "truly excessive" and the world's largest economy must resolve the problems linked to the imbalance, the head of the International Monetary Fund said in remarks published on Sunday.

Writing in Italy's La Stampa newspaper, IMF director general Rodrigo Rato also said that some European countries needed to loosen their labor laws to boost the economy, and that Japan should capitalize on reforms the government has made.

"America must resolve the problems linked to its

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