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US just days away from 'very dangerous moment' -World Bank

World Bank President Jim Yong Kim
Jasjeet Plaha | Hindustan Times | Getty Images)
World Bank President Jim Yong Kim

The president of the World Bank on Saturday warned the United States was just "days away" from causing a global economic disaster unless politicians come up with a plan to raise the nation's debt limit and avoid default.

"We're now five days away from a very dangerous moment. I urge U.S. policymakers to quickly come to a resolution before they reach the debt ceiling deadline...Inaction could result in interest rates rising, confidence falling and growth slowing," World Bank President Jim Yong Kim said in a briefing following a meeting of the bank's Development Committee.

(Read more: Senate leaders try to end debt crisis; talks fail in House)

"If this comes to pass, it could be a disastrous event for the developing world, and that will in turn greatly hurt developed economies as well," he said.