US faces default as early as July

UPGRADE DAY

The United States could find itself in default of payment as early as July, if no agreement is reached by then between the White House and the Republican opposition to raise the debt ceiling, alerted Wednesday the Congressional Budget Service (CBO).

According to the CBO “if the debt ceiling remains unchanged, the government's ability to borrow through extraordinary measures will be exhausted between July and September 2023 ”. 

The country's debt reached 31.4 billion dollars on January 19, a ceiling beyond which it can no longer borrow and must take emergency measures to honor its financial commitments .