The President Will Start Meeting The Parties For Caretaker Cabinet Immediately
The Bulgarian president begins talks with potential caretaker prime ministers immediately
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
The global economy is under great threat over the US fiscal and political crisis, says the President of the World Bank, Jim Yong Kim.
Kim has warned that the United States is just "days away from a very dangerous moment" because of the government's debt ceiling crisis and has urged US policymakers to reach a deal to raise the government's borrowing cap before the October 17 deadline.
The BBC reminds Sunday that the US Treasury will start to run short of funds if no agreement is reached for it to borrow on financial markets.
The World Bank President is quoted in saying this could be a "disastrous event" for the world.
"The closer we get to the deadline, the greater the impact will be for the developing world. Inaction could result in interest rates rising, confidence falling and growth slowing If this comes to pass it could be a disastrous event for the developing world and that will in turn greatly hurt the developed economies as well," said Kim, speaking at the World Bank's annual meeting in Washington.
Republicans and Democrats failed to come to an agreement on Saturday, but Senator Dick Durbin, a Democrat, said the aim was to reach a deal on extending the debt limit before markets reopen on Monday.
President Barack Obama rejected a Republican deal for a short-term rise to the borrowing limit.
The impasse over the debt limit has already rattled markets and increased the interest rate for one-month US Treasury bills.
Meanwhile, hundreds of thousands of federal employees have been out of work since the shutdown began, and private firms, from arms makers to motels, have begun to lay off workers.
Republicans refused to approve the new budget unless President Obama agreed to delay or eliminate the funding of the healthcare reform law of 2010.
The stalemate has harmed the approval ratings of both Democrats and Republicans, but the Republicans' popularity has taken the worst hit and is now at a record low of 28%, according to a Gallup poll cited by The BBC.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
In a sobering assessment of the current geopolitical landscape, Polish Prime Minister Donald Tusk has sounded the alarm, cautioning that Europe is entering a "pre-war era"
Israeli airstrikes have resulted in the deaths of thirty-eight individuals in the northern Syrian city of Aleppo
Russian forces have carried out targeted attacks on critical infrastructure sites in central Ukraine, causing widespread alarm and disruption
Ukrainian military intelligence has accused Russian intelligence services of having prior knowledge about the terrorist attack at the Crocus City Hall concert hall near Moscow
Israeli military operations against Hamas and Palestinian Islamic Jihad militants in Gaza City's Shifa Hospital and Khan Yunis continued, according to the Israel Defense Forces (IDF)
The Czech Republic has revealed the dismantling of a vast network of Russian influence spanning across Europe, with Bulgaria among its targeted countries
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022