Skip to main content

US Treasure Secretary To Come To India For G20 Summit

By
US Treasure Secretary To Come To India For G20 Summit

G20 Summit will be held in New Delhi from September 7 to September 10. (File)

Washington:

US Secretary of the Treasury Janet L Yellen will participate in the G20 Leaders' Summit from September 7 to September 10 in New Delhi, the White House (WH) said.

On her fourth visit to India in 10 months, Secretary Janet L Yellen will focus on strengthening the global economy and supporting low and middle-income countries by advancing the Multilateral Development Bank (MDB) evolution, debt restructuring, and the IMF's Poverty Reduction and Growth Trust (PRGT).

"Secretary Yellen will continue to build momentum for the collective effort that she helped launched last October to evolve the multilateral development banks so the MDBs have the right vision, incentives, operational models and financing capacity to address critical global priorities like combatting climate change, addressing pandemics and global health security, and tackling fragility and conflict," the WH said in a release on Thursday.

Treasury estimates that the MDBs as a system could unlock USD 200 billion over the next decade just from the measures already being implemented or under deliberation as part of this process - with the potential for even more if MDBs undertake some of the longer-term and more complex recommendations in the G20 Capital Adequacy Framework report, including on callable capital, according to the official release.

While in New Delhi, Secretary Janet L Yellen will continue to rally "America's partners to maintain our collective economic support for Ukraine, including through contributions from across our coalition." She will also highlight the importance of imposing severe costs on Russia and mitigating global spillovers, the release said.

"Secretary Yellen and our partners will work to address the consequences of Russia's unprovoked war to global growth and poverty reduction, including through the price cap, which has been achieving its dual goals of reducing Russian revenue while keeping global energy prices stable, as well as efforts to strengthen global food security through the MDBs, leveraging multilateral tools such as the Global Agriculture and Food Security Program (GAFSP), and working towards a successful replenishment of the International Fund for Agricultural Development (IFAD)," the White House release said.

"Finally, Secretary Yellen will continue to deepen the US' bilateral relationship with India. During her visit, Secretary Yellen will further this relationship by engaging with Indian counterparts and the Indian people to discuss common priorities like expanding our bilateral economic ties - as she discussed in remarks last November in New Delhi - and by cooperating on global challenges," it said.

Secretary Janet L Yellen will also participate in engagements on the margins of the G20 and will hold bilateral meetings with counterparts. "Additionally, she will join the President for several of his engagements on the margins of the meetings," the release added.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Adblock test (Why?)



from NDTV News- Special https://ift.tt/C3PZzDS https://ift.tt/8jtzpMW
via IFTTT

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

US Defense Chief Austin To Make 'Full Recovery' From Cancer: Doctors

By
Austin, a 70-year-old career soldier, initially underwent minor surgery to treat cancer on December 22. Washington: US Defense Secretary Lloyd Austin is likely to make a "full recovery" from prostate cancer and his prognosis is "excellent," two doctors said after he was seen at Walter Reed hospital for a follow-up appointment. Austin controversially kept US President Joe Biden in the dark about the cancer diagnosis for weeks, and did not inform either the commander-in-chief or Congress until days after he was hospitalized on January 1 for complications from his treatment. "Secretary Austin was seen today at Walter Reed National Military Medical Center for a scheduled post-prostatectomy surveillance appointment," the doctors said in a statement released by the Pentagon. "He continues to recover well and is expected to make a full recovery. Secretary Austin's prostate cancer was treated early and effectively, and his prognosis is excellent,...
Post a Comment
Read more

North Korea Says It Tested New Strategic Cruise Missile

By
North Korea test-fired a new generation of strategic cruise missile on Wednesday. (Representational) Seoul: North Korea fired several cruise missiles towards the Yellow Sea on Wednesday, Seoul's military said, the latest in a series of tension-raising moves by the nuclear-armed state. Hours later, North Korea appeared to confirm the firing, saying it had carried out its first test of a new generation of strategic cruise missiles it is developing, the Pulhwasal-3-31. Pyongyang has accelerated weapons testing in the new year, including tests of what it called an "underwater nuclear weapon system" and a solid-fuelled hypersonic ballistic missile. "Our military detected several cruise missiles launched by North Korea towards the Yellow Sea at around 7:00 am today," the South Korean Joint Chiefs of Staff said in a statement. Unlike their ballistic counterparts, the testing of cruise missiles is not banned under current UN sanctions against Pyongyang. Cruise...
Post a Comment
Read more

US "Deplores" Israeli Attack On UN Training Center In Gaza

By
More than 25,000 people have been killed in Gaza since war began against Hamas. Washington: The United States was concerned by an Israeli attack on a U.N. training center sheltering displaced people in Gaza's Khan Younis on Wednesday, Deputy State Department spokesperson Vedant Patel said, repeating Washington's calls for protection of civilians, humanitarian workers and aid facilities. "We deplore today's attack on the U.N.'s Khan Younis training center," Patel told a news briefing, calling it "incredibly concerning." The Director of UNRWA Affairs in Gaza said that nine Palestinians were killed and 75 were injured when two tank rounds hit the building that was sheltering around 800 people in the southern Gaza Strip. "Civilians must be protected, and the protected nature of UN facilities must be respected, and humanitarian workers must be protected so that they can continue providing civilians with the life-saving humanitarian assistance...
Post a Comment
Read more