Lavrov pointed to the out-of-control situation with the US national debt.

The situation with the US government debt is getting out of control, and confidence in the US currency has been undermined. This was stated on July 6 by Foreign Minister Sergey Lavrov during the plenary session of the XVI BRICS summit in Rio de Janeiro.

"The COVID-19 pandemic has exposed numerous shortcomings of the global trade and financial system and accelerated its fragmentation. The erosion of the structures of globalization has worsened as a result of illegal unilateral sanctions and the use of the dollar as a weapon for punishment. Trust in the US currency, as a once reliable means of payment, has been undermined," he said.

As another negative factor, the diplomat noted the rapid growth of the debt burden. According to him, today developing countries spend more money on debt servicing than on their own development.

"The situation is getting out of control even in developed countries - the United States has a record amount of public debt, which has reached $37 trillion and continues to grow," Lavrov said.

Stretch ceiling: will there be a default in the United States due to the record national debt of $37 trillion

Why are they talking about problems with its maintenance in the United States again and what will happen to the American economy?

Maxim Chirkov, associate professor of the Department of Economic Policy and Economic Measurements at GUU, said in an interview with Izvestia on July 4 that the American economy was facing serious structural problems related to the growth of government debt, and a large-scale depreciation of the dollar could be a way out of the situation.