The Banking Executive Magazine - October 2023

INTRODUCTION Government shutdowns are not unique to the United States but are more common in the United States due to its political structure, govern- ment funding process and legisla- tions and rising tensions between different parties on priorities of gov- ernment funding. This study overviews government shutdowns in the United States. This overview covers the reasons behind government shutdowns in general and the specific reasons behind Oc- tober 2023 shutdown. The latter was avoided on 30 September 2023. The wider impact of the US government THE WIDER IMPACT OF US GOVERNMENT SHUTDOWN the BANKING EXECUTIVE 26 ISSUE 178 OCTOBER 2023 BY DR. WISSAM FATTOUH, SECRETARY GENERAL, UNION OF ARAB BANKS AND WORLD UNION OF ARAB BANKERS