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October 09, 2013 AT 11:42 AM
WASHINGTON (Reuters) - Advanced economies are cutting fiscal deficits at the fastest pace since 2011 and are on track to have debt stabilize in the next year, though at a very high level, the IMF said on Wednesday. Serious deficit-cutting efforts in most advanced economies, with the exception of Japan, means debt is set to stabilize at an average of just below 110 percent of GDP, the International Monetary Fund said in its twice-yearly Fiscal Monitor. ...