Debt

Where do things stand as the US rolls back debt ceiling deadline?
US Treasury Secretary Janet Yellen says the agency will run out of funds to meet financial obligations by June 5.
Published On 26 May 2023
EXPLAINER
What is 14th Amendment and can it resolve US debt ceiling fight?
President Biden says he could invoke constitution to order the Treasury to issue bonds and keep paying gov’t bills.
Published On 25 May 2023
Disbelief in Kenya over alleged Chinese cyberattack on gov’t data
A report on infiltration of gov’t networks by Kenya’s largest creditor has Kenyans asking how secure their systems are.
Published On 25 May 2023
Biden and McCarthy resume talks as US debt ceiling deadline looms
Their meeting comes as US Treasury Secretary Janet Yellen issues third letter in three weeks, warning of a June default.
Published On 23 May 2023

Republican Leader McCarthy says deb cap negotiations will resume Friday evening after a pause that rattled markets.

Experts say a default would be catastrophic for US economy, but political standoff has persisted as deadline looms.

Republican lawmakers continue to insist on cuts to social programmes as US debt default looms on the horizon.

The CBO warned a default could come as early as June 1 and there was ‘significant risk’ the US could not pay its dues.

Experts warn of ‘cataclysmic’ scenario if world’s biggest economy fails to meet its debt obligations.

Credit line is part of about $4bn in emergency assistance extended by India during peak of Sri Lanka’s crisis last year.

Moody’s chief economist told a US Senate panel that the Republican plan will ‘meaningfully increase’ recession chances.

Hindenburg Research said Carl Icahn takes money from new investors ‘to pay out dividends to old investors’.

A letter from US Treasury Secretary Janet Yellen warns of potential ‘harm to business and consumer confidence’.

Democrats and Republicans use the federal budget to decide on the future direction of the country.

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