Moody’s strips US of last top credit rating over debt concerns
The US has lost its final AAA credit rating after Moody’s downgraded the country to Aa1, citing growing deficits and mounting debt as risks to long-term fiscal health.
The United States on Tuesday formally congratulated Friedrich Merz on his election as Germany’s new chancellor, reaffirming its commitment to close transatlantic cooperation amid evolving global challenges.
“We congratulate Friedrich Merz on his election as chancellor in Germany,” said U.S. State Department spokeswoman Tammy Bruce during a press briefing. “We will continue to work with Germany and its next government to ensure the security of the United States and Europe.”
Merz, the leader of Germany’s Christian Democratic Union (CDU), was elected chancellor by the Bundestag on Tuesday in a second round of voting, following weeks of coalition negotiations. His party secured a governing majority in alliance with the Social Democrats after snap elections held on February 23.
With his confirmation, Merz becomes Germany’s 10th chancellor since World War II, succeeding Olaf Scholz and marking a shift toward more conservative leadership in Berlin. His election is expected to influence Germany’s domestic economic policy as well as its approach to NATO, EU integration, and relations with Washington.
The White House has not yet issued a statement, but officials indicated that President Donald Trump is expected to speak with Chancellor Merz in the coming days to extend congratulations and discuss shared priorities.
Ukrainian President Volodymyr Zelenskyy met Turkish President Recep Tayyip Erdogan in Ankara on May 15, with discussions reportedly focusing on upcoming peace talks between Ukrainian and Russian delegates in Istanbul.
Israeli Prime Minister Benjamin Netanyahu said the war in Gaza will not stop until Hamas is destroyed, following the release of US-Israeli soldier Edan Alexander.
Qatar signed a landmark agreement with U.S. aerospace giant Boeing on Wednesday to acquire 160 aircraft for Qatar Airways, a deal valued at $200 billion. The signing took place in Doha during the visit of U.S. President Donald Trump.
Delegations from Russia and Ukraine met in Türkiye for their first direct peace talks since 2022, with discussions lasting under two hours.
Vietnam and Thailand have officially upgraded their ties to a strategic partnership, marking a significant step forward in regional diplomacy.
Indian Minister of Petroleum and Natural Gas, Hardeep Singh Puri, announced that India is opening up 200,000 square kilometers of its sedimentary basin for oil and gas exploration, inviting Russian companies to participate.
Colombian President Gustavo Petro announced on May 16 that his country has started the process of joining the New Development Bank of BRICS.
Ministers in Libya’s Government of National Unity (GNU) are resigning one by one amid mounting protests in Tripoli, Libya Press agency reports
The US Supreme Court on Friday paused President Donald Trump’s attempt to carry out deportations using the 1798 Alien Enemies Act, siding with a group of Venezuelan immigrants in Texas who argued they were at risk of sudden removal under the rarely used wartime law.
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