The financial leaders of the Group of Seven wealthy nations meet in Japan beginning Thursday as a standoff over the US debt ceiling and potential default looms as one of the biggest potential threats to the global economy.
Treasury Secretary Janet Yellen said one of her priorities in Niigata, a port city on the Japan Sea coast, would be to emphasize the importance of resolving the standoff over the national debt in the world's largest economy. "A default is frankly unthinkable," she told reporters before the broader meetings began. "America should never default. It would rank as a catastrophe," she said.
The impasse over spending risks leaving the government unable to pay for teachers in classrooms, medical care for veterans and vital benefits to many Americans, she said. It also is undermining US economic leadership.
While in Japan, Yellen also is bound to be seeking to reassure her counterparts over recent bank failures that have raised worries over risks for the global financial system. The finance ministers and central bank governors are meeting for three days ahead of a G-7 summit later this month in Hiroshima.
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ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة May 12, 2023 من Millennium Post Delhi.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
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