Congress faces a deadline of Thursday to raise the the U.S. borrowing limit or risk defaulting on its debts. Speaking on NBC’s Meet the Press, International Monetary Fund head Christine Lagarde said default would have a global impact.

Christine Lagarde: “If there is that degree of disruption, that lack of certainty, that lack of trust in the U.S. signature, it would mean massive disruption the world over, and we would be at risk of tipping yet again into recession. That was the impression around that big table.”