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Yellen underscored the need for major economies to continue supporting developing countries as they grapple with the Covid-19 pandemic, climate change and high debt burdens. Reuters pic
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WASHINGTON, April 9 US Treasury Secretary Janet Yellen on Thursday warned of the risk of a permanent divergence in the global economy in the wake of the Covid-19 crisis, and urged major economies to inject significant new fiscal support to secure a robust recovery.
In a statement to the steering committees of the International Monetary Fund and the World Bank, Yellen underscored the need for major economies to continue supporting developing countries as they grapple with the Covid-19 pandemic, climate change and high debt burdens.
US Treasury s Yellen tells world s large economies: Spend big, danger lurks
Apr 8, 2021 11:40 PM PHT
Reuters
US Treasury Secretary Janet Yellen on Thursday, April 8, warned of the risk of a permanence divergence in the global economy in the wake of the COVID-19 crisis, and urged major economies to inject significant new fiscal support to secure a robust recovery.
In a statement to the steering committees of the International Monetary Fund (IMF) and the World Bank, Yellen underscored the need for major economies to continue supporting developing countries as they grapple with the COVID-19 pandemic, climate change, and high debt burdens.
She urged the World Bank to help countries, particularly the world s poorest, get timely access to COVID-19 vaccines, and backed accelerated negotiation to replenish the World Bank s International Development Association fund for the poorest countries – a goal the bank aims to reach by December.
By Reuters Staff
1 Min Read
FILE PHOTO: U.S. Treasury Secretary Janet Yellen attends an economic briefing with U.S. President Joe Biden in the Roosevelt Room at the White House in Washington, U.S., March 5, 2021. REUTERS/Tom Brenner/File Photo
WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen on Thursday warned of the risk of a permanence divergence in the global economy, and urged major economies to strive to provide significant amounts of new fiscal support to secure a robust recovery.
In a statement to the steering committees of the International Monetary Fund and the World Bank, Yellen underscored the need to continue supporting the world’s poorest countries as they grapple with the COVID-19 pandemic, climate change and high debt burdens.
Updated / Thursday, 8 Apr 2021
14:53
US Treasury Secretary Janet Yellen
US Treasury Secretary Janet Yellen has warned of the risk of a permanence divergence in the global economy in the wake of the Covid-19 crisis, and urged major economies to inject significant new fiscal support to secure a robust recovery.
In a statement to the steering committees of the International Monetary Fund and the World Bank, Yellen underscored the need for major economies to continue supporting developing countries as they grapple with the Covid-19 pandemic, climate change and high debt burdens.
She urged the World Bank to help countries, particularly the world s poorest, get timely access to Covid-19 vaccines, and backed accelerated negotiation to replenish the World Bank s International Development Association fund for the poorest countries - a goal the bank aims to reach by December.
Janet Yellen tells world s big economies: spend big, danger lurks
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Last Updated: Apr 08, 2021, 07:36 PM IST
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Synopsis
She called on all creditors to fully and transparently implement the Group of 20 s common framework for debt treatments to avoid unnecessary delays that can prolong debt overhangs and exacerbate growth shocks.
Agencies
The United States had pledged $4 billion to the COVAX global vaccine distribution initiative, Yellen said, urging others to join in.
U.S. Treasury Secretary Janet Yellen on Thursday warned of the risk of a permanence divergence in the global economy in the wake of the COVID-19 crisis, and urged major economies to inject significant new fiscal support to secure a robust recovery.