The United States has reached the statutory debt limit and Treasury Secretary Timothy Geithner urged the Congress to lift the debt ceiling to ensure global confidence, said the Treasury Department on Monday.

"I have determined that a 'debt issuance suspension period' will begin today, May 16, 2011, and last until Aug. 2, 2011, when the Department of the Treasury projects that the borrowing authority of the United States will be exhausted," Geithner said in a letter to the Congress leaders.

The Treasury Department said it had hit the 14.29 trillion U.S. dollars legal ceiling on borrowings and was beginning measures to curb investment activities that would otherwise force it over the limit.

"I have written to Congress on previous occasions regarding the importance of timely action to increase the debt limit in order to protect the full faith and credit of the United States and avoid catastrophic economic consequences for citizens," Geithner said, "I again urge Congress to act to increase the statutory debt limit as soon as possible."

VietNamNet/Xinhuanet