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WorldAsiaRepublican McCarthy said he came with Biden to 'agreement in principle' on US default

Republican McCarthy said he came with Biden to ‘agreement in principle’ on US default

Republican Kevin McCarthy, Speaker of the United States House of Representatives, has announced a tentative agreement to prevent default in the country.

He reported on the conversation he had with President Joe Biden. As a result, as he noted, they reached an agreement “worthy of the American people.” McCarthy added that he would make the announcement at 9:10 p.m. ET.

“I just hung up the president with the president. After wasting time and refusing to negotiate for months, we have reached an agreement in principle worthy of the American people,” he wrote on his Twitter.

Earlier it was reported that a phone conversation between Biden and McCarthy was planned. At the same time, it was noted that between the two parties – the US Republican Party and the White House – there is an agreement in principle to increase public debt.

In particular, the Republicans agree to raise the US public debt ceiling in view of the promise to limit federal budget spending, given by the White House.

Earlier, World Bank chief Malpass said he did not expect a US default. He positively assessed the bill passed by the House of Representatives to raise the public debt ceiling.

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