US reaches debt ceiling deal amid a looming financial crisis

Washington: As the US faces a potential debt default, President Joe Biden and his Republican opponents have reached an in-principle agreement to raise the US debt ceiling to avert a default, media reports said.

UN ‘financial crisis,’ years in the making, Guterres tells budget body, proposes solutions

New York, June 7 (IBNS): The UN’s financial crisis has been years in the making and is undermining the organization’s mandates and reform efforts, Secretary-General António Guterres told the Fifth Committee,  the body responsible for the United Nations budget,  on Tuesday.