There is a “significant risk” that the US could default on its debt by June 15 if Congress fails to strike a deal to raise the debt ceiling, the non-partisan Congressional Budget Office said on Friday.
The statement from the CBO brings the “X-Date”, the day on which the Treasury will run out of money, in line with Treasury Secretary Janet Yellen's projection.
The current debt limit is $31.4 trillion.
The CBO says failure to reach a deal would lead to a delay on payments for some government activities and/or a potential default, which would have disastrous effects on the economy.
The White House and Republicans in Congress remain at loggerheads over debt-ceiling negotiations.
President Joe Biden is pushing for a debt-ceiling raise without conditions, while Republicans are looking to press for a debt-limit increase that would include spending cuts.
Mr Biden was scheduled to have a second meeting this week with House Speaker Kevin McCarthy and other congressional leaders on the debt ceiling, although that was cancelled.
The International Monetary Fund on Thursday warned of severe consequences should the US default.
“Our assessment is that there would be very serious repercussions not only for the US but also for the global economy should there be a US debt default,” said IMF communications director Julie Kozack.
Agence France-Presse contributed to this report
360Vuz PROFILE
Date started: January 2017
Founder: Khaled Zaatarah
Based: Dubai and Los Angeles
Sector: Technology
Size: 21 employees
Funding: $7 million
Investors: Shorooq Partners, KBW Ventures, Vision Ventures, Hala Ventures, 500Startups, Plug and Play, Magnus Olsson, Samih Toukan, Jonathan Labin
ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Scores
Oman 109-3 in 18.4 overs (Aqib Ilyas 45 not out, Aamir Kaleem 27) beat UAE 108-9 in 20 overs (Usman 27, Mustafa 24, Fayyaz 3-16, Bilal 3-23)
PROFILE OF STARZPLAY
Date started: 2014
Founders: Maaz Sheikh, Danny Bates
Based: Dubai, UAE
Sector: Entertainment/Streaming Video On Demand
Number of employees: 125
Investors/Investment amount: $125 million. Major investors include Starz/Lionsgate, State Street, SEQ and Delta Partners
Match statistics
Dubai Sports City Eagles 8 Dubai Exiles 85
Eagles
Try: Bailey
Pen: Carey
Exiles
Tries: Botes 3, Sackmann 2, Fourie 2, Penalty, Walsh, Gairn, Crossley, Stubbs
Cons: Gerber 7
Pens: Gerber 3
Man of the match: Tomas Sackmann (Exiles)
Killing of Qassem Suleimani
Killing of Qassem Suleimani
