Experts predict the fate of the dollar in case of a US default

Moscow, May 31 – Economist Scott McDonald wrote in an article for the National Interest that a potential US default could have dire consequences for the dollar and the country’s economy.

In his opinion, such a situation would seriously affect the American people and the standing of the United States in the world. Possible default will give impetus to “the overthrow of the dollar from the throne of the world’s leading currency.” As the economist noted, Russia, China, South Africa and other countries have already started trading in other currencies. MacDonald added that this is largely due to the economic pressure Washington is putting on Moscow.

Earlier it became known that US President Joe Biden reached a budget agreement with House Speaker Kevin McCarthy on public debt. The US leader said the bill has been referred to the House and Senate, and called on lawmakers to support the agreement.