A flag flies on the Capitol
Media playback is unsupported on your device
Video

World Bank warning over US shutdown

The World Bank is warning of grave consequences for the global economy if politicians in the United States fail to increase the government's borrowing limit by Thursday's deadline.

The bank's president, Jim Yong Kim, says there is a danger of rising interest rates and slower growth, and that these could be disastrous for the developing world.

Joe Lynam reports.

Go to next video: Reid: 'Conversations cordial'