United States Treasury Secretary Timothy Geithner said he was confident Congress would raise the country’s debt limit and that it may need to do so before a deal is reached to rein in future budget deficits.
There is an urgent need for the United States to tackle the deficit in the government's finances since the size of the exposure risks creating instability in the financial markets, according to the International Monetary Fund. However the IMF says the global economic recovery is gaining strength.
United States will reach its 14.29 trillion US dollars legal debt limit no later than May 16 unless Congress acts before then, Treasury Secretary Timothy F. Geithner said on Monday warning of “severe hardship” if lawmakers fail to act.
US President Barack Obama's trip to Brazil, Chile and El Salvador beginning this week is still on, despite fears of a nuclear disaster in Japan and turmoil in the Middle East, officials said on Wednesday.
Rapid growth of emerging economies like China, India and Brazil is boosting the American exports, US Treasury Secretary Timothy Geithner has said.
Brazil's Foreign Affairs ministry told U.S. officials on Thursday that Brazil wants global talks at the World Trade Organization to move forward, but can't make any new concessions.
The Brazilian government confirmed on Tuesday that US President Barak Obama will make an official visit to Brazil on March 19 and 20.
In spite of United States inciting Brazil and India to criticise China's currency policy, Beijing need “not worry too much” because it can defuse the tension through talks, according to Chinese officials.
Brazilian Defence minister Nelson Jobim begins this week a tour of neighbouring Mercosur partners where he is scheduled to sign a statement underlining the strategic relation with Argentina, and further on Uruguay’s interest in military cooperation and equipment.
US Treasury Secretary Timothy Geithner reached out to Brazil by citing a shared concern - China - and endorsing Brazil's approach for dealing with global economic distortions.