US reaches 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 and avoid default.

The breakthrough came after a long stalemate as both sides toughened their stance in negotiations ahead of a June 5 deadline to avoid a US default.

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

* Continued update

Huyen Le (According to AFP , Reuters )

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