The US reaches an agreement to avoid default.

The Speaker of the US House of Representatives announced that President Joe Biden and the Republicans have reached an agreement in principle to raise the debt ceiling, avoiding default.

The breakthrough came after a long period of deadlock as both sides remained rigid in negotiations ahead of the June 5 deadline to avoid a US default.

US President Joe Biden at the White House on May 5. Photo: AFP

* Updates continue

Huyen Le (According to AFP , Reuters )

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