The voting will have onshore creditors decide on approving a proposal by Country Garden to extend repayments of eight onshore bonds by three years.

It remains to be seen whether a raft of government stimulus measures will help revive demand, ease the sector's cash squeeze and lift the gloom over the world's second-largest economy.

The former prime minister denies the allegation that he failed to implement the settlement of Felda settlers' debt during his administration.

Philippine President Ferdinand Marcos says 'putting it under the government's tab is the right thing to do'.

Sri Lanka launched a much-anticipated domestic debt restructuring framework that seeks to rework part of its the island nation's US$42 billion domestic debt.

The Republican-controlled House voted 314 to 117 to approve the bill, and the Democrat-controlled Senate voted 63 to 36.

Lawmakers have until Monday next week to green-light an agreement between Republicans and Democrats to allow more borrowing and ensure the country doesn't miss loan repayments.

Congress will vote on the deal to extend the government's borrowing authority on Wednesday, just shy of the June 5 'X-date'.

Winning bipartisan support for adoption of the bill will test the skills of party whips, with grumblings already on both sides over the concessions being made.

In 2022, US discretionary spending reached US$1.7 trillion, accounting for 27% of the overall US$6.27 trillion spent, according to federal figures.

Negotiators for President Biden and Republican Kevin McCarthy reconvened at the White House to try to strike a deal to raise the US' US$31.4 trillion debt ceiling and avoid a catastrophic default.

Fitch has placed the country's AAA-ranked credit on 'rating watch negative'.