World News@lemmy.worldEnglish · 22 hours ago

Biden administration moves to forgive $4.7 billion of loans to Ukraine

www.swissinfo.ch

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Biden administration moves to forgive $4.7 billion of loans to Ukraine

www.swissinfo.ch

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World News@lemmy.worldEnglish · 22 hours ago

By Simon Lewis and Daphne Psaledakis

Summary

The Biden administration has moved to forgive $4.7 billion in U.S. loans to Ukraine as part of a $9.4 billion loan package authorized by Congress in April to support Ukraine’s government during its war with Russia.

State Department spokesperson Matthew Miller confirmed the decision, which Congress could still block.

The Senate is set to vote on a disapproval motion introduced by Senator Rand Paul, though bipartisan support for Ukraine remains strong.

President Biden is expediting aid ahead of his term’s end, amid concerns President-elect Trump may restrict future support.

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Eugene V. Debs' Ghost@lemmy.dbzer0.com
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12 hours ago
Does anyone know why Biden has the authority to do this? It seems more up to Congress to decide if a debt is forgiven overnight. “Pen and the Purse” is what my social studies said every class.

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