White House Debt Meeting Postponed





White House talks on raising the US debt limit before it expires this week have been delayed to allow lawmakers more time to hammer out a deal.
 
Democratic and Republican lawmakers are also at loggerheads over a partial government shutdown, which is now in its third week.
 
But congressional leaders say there has been progress in their negotiations to find a way out of the impasse.
 
The IMF says a US debt default would trigger global economic turbulence.
 
On Thursday, the US must raise its $16.7tn (£10.5tn) borrowing limit so that the nation can pay its bills.
 
In a statement, the White House said talks scheduled for Monday afternoon had been postponed to "allow leaders in the Senate time to continue making important progress towards a solution that raises the debt limit and reopens the government".
 
The meeting was not immediately rescheduled.
'Potentially devastating'
 
According to US media, congressional leaders are discussing a deal to fund the government until 15 January and raise the debt ceiling until around mid-February. 
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