Mnuchin told Ryan at that point "Treasury will suspend the sale of State and Local Government Series (SLGS) securities" until "the debt limit is either raised or suspended" in order to prevent a default.
ADVERTISEMENT
MNUCHIN TO CONGRESS: Raise the debt ceiling
In a letter to House Speaker Paul Ryan sent on Wednesday, Treasury Secretary Steve Mnuchin said "the outstanding debt of the United States will be at the statutory limit" at midnight on March 16. At that point, Treasury will have to utilize "extraordinary measures" for the federal government to keep paying its bills.
ADVERTISEMENT
Recommended articles
Here's a copy of the full note from Mnuchin to Ryan:
FOLLOW BUSINESS INSIDER AFRICA
ADVERTISEMENT
Recommended articles
See why ice is now pricier than bread and milk in this African country
8 ingenious tips to merge PDF files more efficiently
10 most powerful African passports in 2024
UK sends first voluntary asylum seeker to Rwanda
FCMB Group records 186% profit growth, proposes 50k dividend
Accounting with a Purpose - Moracle Ghana CEO has simplified accounting for small businesses and nonprofits
10 African countries with the lightest debt burden in 2024
Sale of African skulls in a British museum comes to light
