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NewsMcCarthy: Progress Made in US Debt Ceiling Negotiations

McCarthy: Progress Made in US Debt Ceiling Negotiations

– Published on:

On Friday, the White House and Republican negotiators continue their efforts to reach an agreement that allows the United States to avoid a default on its debt, which could have major political and economic repercussions, amid encouraging signs towards a solution.

According to several American media, the two teams of Democratic President Joe Biden and Republican Speaker of the House Kevin McCarthy have agreed on a few main lines.

Biden confirmed on Thursday that the United States will not default on its debt, but time is running out to reach an agreement on raising the public debt ceiling.

And as of June 1, the United States could find itself in a situation of default, that is to say that it will not be able to meet its financial obligations, whether in terms of salaries and pensions, or pay their financial obligations to creditors.

For its part, the International Monetary Fund warned Friday against the US delay in reaching an agreement on raising or suspending the debt ceiling, and urged the United States to agree on this issue immediately.

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Arab Desk
Arab Desk
The Eastern Herald’s Arab Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

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