US Congress pushes back threat of US default

The US Congress agreed on Tuesday, October 12, to temporarily raise the US debt ceiling until the end of the year, providing respite for the world's largest economy before a new political battle that promises to be fierce to avoid default on payment.

Read also Congress will temporarily raise the US debt ceiling

Thanks to the sole support of elected Democrats (219 votes to 206), the House of Representatives adopted a measure which plans to raise the debt limit of the United States by 480 billion dollars.

This will allow the country to honor its payments until December, or even at the very beginning of 2022, removing the prospect of a default with catastrophic consequences.