IMF chief Rato calls for deficit cuts

On the first part of his first Asian trip, International Monetary Fund Managing Director Rodrigo Rato urged Washington to cut its budget deficit and called on Beijing to "slow down" the Chinese economy to a more sustainable pace.

Rato met Japanese Prime Minister Junichiro Koizumi and Finance Minister Sadakazu Tanigaki on a two-day visit to Tokyo that ended Tuesday. He will also visit Beijing June 23-24, Singapore June 25 and Hanoi June 26.

"This clear moment of upswing is a very good moment to