Australia Cancels Quad Summit In Sydney After Biden Postpones Trip Over US Debt

Australian Prime Minister Anthony Albanese has confirmed that the highly anticipated Quad leaders meeting would not go ahead in Sydney next week, after US President Joe Biden pulled off his Australia visit amid a looming political and economic crisis at home.

Addressing a news conference, Albanese said that the Quad leaders meeting will not be going ahead in Sydney next week. The leaders of Australia, the United States, India, and Japan would instead meet at the G7 in Japan this weekend.

"The Quad leaders meeting will not be going ahead in Sydney next week. We, though, will be having that discussion between Quad leaders in Japan," Albanese was quoted saying by Reuters.

"All four leaders, Prime Minister Modi, President Biden, Prime Minister Kishida, and myself will attend the G7, held in Hiroshima. We are planning to have a bilateral discussion with President Biden on the sidelines of the G7 summit," he said.

"As of now, we haven't got time locked in for that arrangement," he added.

"We are in discussions with the Quad leaders over today. We will make further announcements about that, but Prime Minister Modi would certainly be a very welcome guest here next week," he said.

However, Albanese said he is looking forward to bilateral talks with Prime Minister Narendra Modi in Sydney.

Known as the 'Quadrilateral Security Dialogue' (QSD), the Quad is a key pillar of the Indo-Pacific agenda. The Quad is a diplomatic network comprising four nations, namely the United States of America (USA), India, Australia, and Japan.

Biden announced on Tuesday that he will postpone his visit to Australia, Papua New Guinea due to debt ceiling negotiations in Washington.

On May 1, Treasury Secretary Janet Yellenthe warned that US running out of money to pay its debts as soon as June 1, sparking fears of a global economic and financial crisis.