US President Joe Biden has told Papua New Guinea Prime Minister James Marape he will not be able to travel to the country to attend the Pacific Islands Forum leaders’ forum because of the threat of default.
The announcement was made by the White House.
The decision was due to the need to return to Washington to meet with congressional leaders on the issue of preventing a default, the administration said.
As Biden earlier said, congressional leaders have an understanding that a default should not be allowed in the country, which would be a disaster for the American economy and the American people.
Investor Jim Rogers said that the US dollar is starting to lose its leading position as the United States is the biggest debtor in the world.
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