Relief as US avoids debt default


October 17, 2013 at 9:45a.m.

Relief as US avoids debt default

BEIJING (AP) - Political leaders, investors and ordinary people today welcomed the end of a U.S. government shutdown but already were looking ahead to the next round of a budget battle that brought the world’s biggest economy close to default and threatens Washington’s international standing. The deal approved late Wednesday by Congress, with hours to go before the government reached its $16.7 trillion debt limit, only permits the Treasury to borrow through Feb. 7 and fund government through Jan. 15. The International Monetary Fund appealed to Washington for more stable long-term management of the nation’s finances.