DAP: The breaking news in Cambodia: “Roundup: U.S. debt impasse remains despite Obama's push” plus 7 more

WASHINGTON, July 25 (Xinhua) -- With only one week away from an unprecedented default, the two political parties in Washington remain at odds over how to raise the country's debt ceiling even as President Barack Obama made a fresh push for a solution.

In a national televised address delivered Monday night, Obama said "both parties have responsibilities to solve the problem," but lamented that there are still "two approaches."

Obama warned that failure to compromise and raise the debt ceiling would severely harm the world's largest economy as Washington is running out of time to avert the default by Aug.2.

"If we stay on the current path, our growing debt could cost us jobs and do serious damage to the economy," he warned.

The United States already reached its borrowing limit of 14.29 trillion U.S. dollars on May 16, and would default if there is no agreement on lifting the limit by Aug. 2, according to the Treasury Department.

With only a week left before the deadline arrives, Democrats and Republicans remain divided on the approach to solve the problem, risking worldwide repercussions.

Republican leader and House Speaker John Beohner on Monday unveiled a new plan which will take a two-stage deficit reduction plan that would start with an initial 1.2 trillion dollars in savings over 10 years.

It is expected to be rejected by Obama because it would raise the U.S. debt limit for only a few months, meaning the issue likely would have to be revisited early next year.

Meanwhile, Senate Majority (Democrat) leader Harry Reid detailed their competing plan for 2.7 trillion in deficit reduction over the next decade but with a debt limit increase that would carry through the November 2012 presidential and congressional elections. Republicans appear unlikely to support this approach.

Reid's proposal has the backing of the White House, as Obama's spokesman Jay Carney praised it in a statement as a "reasonable approach that should receive the support of both parties."

Obama, a Democrat, said Friday his only bottom line is to extend the debt limit by enough to avoid another politically painful vote before his November 2012 re-election bid. But the Republicans apparently want to turn the topic into an obstacle on the president's way.

In the TV address, Obama rejected the new Republican plan as "dangerous", saying it will risk sending the U.S. economy back to the edge of cliff and the country's AAA credit rating will be downgraded.

The president stressed that failure to compromise and let the country to default on its financial obligation is "reckless and irresponsible."

"We must avoid default," the president said.

Boehner, in response to Obama's address, said the president "wanted a blank check ... this is just not going to happen".

The Washington debt impasse has already caused global concern.

The International Monetary Fund warned Monday that the failure to raise U.S. debt ceiling will bring serious impact to the world.

"These risks would also have significant global repercussions, given the central role of U.S. Treasury bonds in world financial markets," the IMF said.

An IMF official, briefing reporters by phone, said that if the United States' AAA debt rating -- regarded as the gold standard for creditworthiness -- was downgraded it could be "extremely damaging" for the U.S. and world economy.

The IMF projected U.S. public debt at 99.0 percent of gross domestic product this year, rising to a ratio of 103.0 percent in 2012, higher than its June estimates.

A loss of confidence in U.S. debt sustainability "are universally large and negative", said the IMF.

MANILA, July 26 (Xinhua) -- Tropical Depression "Nock-ten" (" Juaning") has intensified into a tropical storm Tuesday morning, bringing heavy rains and floods in several northern Philippine provinces.

MANILA, July 26 (Xinhua) -- Former Philippine President Gloria Macapagal-Arroyo will be undergoing surgery for her damaged cervical spine.

Dr. Juliet Gopez-Cervantes, attending physician to Arroyo, said Tuesday that Arroyo needs to undergo surgery immediately as if this could lead to paralysis.

Arroyo, now Pampanga congresswoman, was rushed to St. Luke's Medical Center in Taguig City following a recurring neck pain.

"We suspect that this attack was probably induced by her continuing to work countless hours despite her stresses. We also suspect that this is probably cause by the similar acute pain attack which also hospitalized her at St. Luke's last month," Cervantes said in a press briefing.

There's no surgery schedule yet for Arroyo.

Last June, Arroyo was sent to hospital after suffering from " cervical radiculopathy" or "pinched nerve" caused by a compressed nerve root on her neck. She had to wear a neck brace for several days after that.

YANGON, July 26 (Xinhua) -- Myanmar Vice President D. Sai Mauk Kham has stressed the need for regional government administration to abstain from bribery and corruption in realizing the aim of standing as a clean government, official media reported Tuesday.

Meeting with Mandalay region administration on Monday, Sai emphasized the need for the three administrative bodies of regions and states to discharge their duties through check and balance system, warning that they are to be responsible for good and bad results of what they have done and are to report whatever tasks they have carried out to the union government and ask for assistance if necessary, said the New Light of Myanmar.

He also stressed the need to address issue on ethnic groups residing in the region.

He called on the judicial sector to carry out judicial tasks in a way that wins public trust and refrain from partiality.

Noting that Mandalay, the second largest city and an archaeological city of Myanmar, has a constant flow of foreign visitors and is a commercial hub with agricultural development, Sai pointed out that it is time Mandalay became an international level city as it lies in the region where goods from neighboring countries are distributed and as the region is a strategic with a steady stream of various nationalities.

He stressed carrying out the city construction in cooperation with private companies.

Noting that rural development and poverty alleviation tasks have been launched since the start of this month, he called for giving priority to implementing the private micro finance sector out of the eight designated tasks to be carried out in the region, citing the development plan for 4,780 villages in the region.

The new government has formed the Central Committee for Rural Development and Poverty Alleviation to monitor tasks for rural development and poverty alleviation with foundation in transport, supply of clean and irrigation water, education, health and economy in rural areas and the committee is now in pursuant of eight tasks to achieve the goal.