Yellen urges major economies to support the global recovery

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

On Thursday, US Treasury Secretary Janet Yellen warned of the threat of a long-term divergence in the economic dynamics of different countries and called on the largest economies to allocate significant amounts of additional fiscal support to ensure a sustainable recovery.

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

She called on the World Bank to provide assistance to developing countries and ensure timely access to COVID-19 vaccines. She said the United States supports accelerated negotiations to replenish the International Development Association’s fund for the Poorest Countries.

Author: Steve Cowan
Graduated From Princeton University. He has been at the Free Press since October 2014. Previously worked as a regional entertainment editor.
Function: Chief-Editor