Time is running out for an agreement, with U.S. Treasury Secretary Janet Yellen warning earlier this month that without a deal, the largest economy in the world could default by June 1.
Democratic leaders want the limit to be raised but Republican lawmakers have called for spending cuts to be agreed before anything is approved.
Christian Lindner, German finance minister, told CNBC he hopes the U.S. will avoid adding further problems to the global economy.German Finance Minister Christian Lindner hopes American lawmakers will be "mature" over the debt ceiling negotiations to avoid further headwinds for the global economy.— which refers to the maximum amount of money that the two chambers allow the federal government to borrow.
Time is running out for an agreement, with U.S.
"I cannot comment on domestic politics in other countries, but I hope everyone is mature in this situation and avoids further risks for the global economic development," he told CNBC's Martin Soong. Speaking earlier Thursday at a press conference, also at the G-7 meeting, Yellen said a U.S. default would threaten the global economy. U.S. President Joe Biden had previously warned that differences with the Republican Party over the debt ceiling risk a recession.
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