The credibility of the United States is at risk if Congress fails to approve International Monetary Fund quota and governance reforms, Treasury Secretary Jacob Lew warned on Tuesday. For more than two years the US Congress has prevented the 2010 IMF reforms from taking effect.
British Government is working with the US Congress in order to bolster support for Gibraltar’s right to remain under British sovereignty.
The US Department of State has backed the appointment of Nancy Soderberg as Chair of the Public Interest Declassification Board (PIDB), saying her “responsibilities” as public servant are “not linked” with Argentina’s dispute with the holdouts, Argentina's Telam news agency reported.
Over 100 economists, including Nobel laureate Robert Solow, Branko Milanovic and Dani Rodrik called on the United States Congress to take action to mitigate the harmful fallout from the recent ruling by Judge Griesa of the U.S. District Court for the Southern District of New York that requires Argentina to pay holdout creditors at the same time as the majority of creditors.
US Secretary of State, John Kerry has rejected the possibility that the Barack Obama administration would side with Argentina in the long-standing dispute with hedge funds over the defaulted bonds from the 2001/2 meltdown. Still the US official praised what he considered some “positive steps” by the Cristina Fernandez government.
United States House Speaker John Boehner invited Pope Francis to address a joint session of Congress - an unprecedented event - during an expected visit to the United States next year. Republicans and Democrats on Capitol Hill have quickly sought to invoke the popular pontiff's devotion to the poor.
The US Congress should look into legal options for regulating virtual currencies such as bitcoin, said Federal Reserve Chair Janet Yelleny. Japan-based bitcoin exchange Mt. Gox went dark leaving customers unable to access their accounts. Experts have warned they might not have much recourse to recover their money.
The US Senate has sent to the president a bill to raise the country's borrowing limit for another year, ending a series of political standoffs over the issue. The chamber passed the bill on a 55-43 party line vote a day after it narrowly passed the House of Representatives.
Argentine foreign minister Hector Timerman called US senators Marco Rubio and Robert Menendez “extremists”, who don't represent the will of the Senate, the US government or the US people.
Argentina's cabinet chief Jorge Capitanich reacted on Friday to US Senators' remarks who on Thursday harshly criticized the economic policies of President Cristina Fernandez administration and forecasted an economic collapse sooner than later.