US Treasury Secretary Janet Yellen warned that inaction on the debt ceiling would "cause severe hardship." The previous estimate for a potential debt default was June 1.
Treasury Secretary Janet Yellen wrote to Congress saying that the US Treasury had started its "debt issuance suspension period" amid a standoff in Congress over increasing the country's debt ceiling.
29 Jun 2022
Moscow has failed to meet a deadline for over $40 billion in outstanding debts as Western sanctions squeeze the Russian economy. The Kremlin has downplayed the news, insisting it has enough to pay what it owes.