The head of the Ministry of Finance Yellen calls on major economies to support global recovery

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The head of the Ministry of Finance

The head of the Ministry of Finance noted the need to provide further support to the poorest countries

Treasury Secretary Janet Yellen on Thursday warned of the threat of long-term divergence in economic performance across countries and called on major economies to commit significant amounts of additional financial support to ensure a sustainable recovery.

Speaking to the steering committees of the International Monetary Fund and the World Bank, Yellen stressed the need to continue supporting the poorest countries in their fight against the COVID-19 pandemic, climate change, and high debt levels.

She called on the World Bank to assist developing countries to ensure timely access to COVID-19 vaccines and said the United States supports expedited negotiations to replenish the International Development Association’s fund for the poorest countries.

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