The United States urges G7 to “advance strongly” with additional financial incentives – Business – 02/13/2021


US Secretary of the Treasury, Janet YellenYesterday, the Group of Seven financial leaders urged “strong progress” with additional financial incentives to recover from Coronavirus pandemic He told them that the Biden government was committed to multilateralism and the fight against climate change.

The Treasury Department said in a statement that Yellen stressed the need to provide more Financial support To foster a strong and long-term recovery, he told his G7 colleagues, “Now is the time for great success.”

The Treasury Department also said that Yellen expressed her strong support for the G7 efforts to tackle climate change, and told finance ministers and central bank governors that the Treasury’s commitment to this matter would change dramatically compared to. With the past four years in the era of Donald Trump.

Yellen’s predecessor, Stephen Mnuchin, was often reluctant to include texts on climate change in the G7 and G20 data.

“We understand the critical role that the United States should play in the global climate effort,” the Treasury statement quoted Yellen as saying.

Yellin also told the meeting that the G7 countries should work with international financial institutions, such as the International Monetary Fund (International Monetary Fund) And the World Bank, To meet the challenges facing low-income countries they struggle with The response to the epidemic.

His statement did not refer to the increase in IMF resources to assist troubled countries, nor to a new issuance of special drawing rights from the fund, an issue that was to be discussed at the meeting.

The G7 ministers will hold a virtual meeting this weekend – organized by the United Kingdom – to define aspects of financial coordination and share their views on World economy.

Italian Economy Minister Roberto Gualtieri confirmed the group’s intention to continue supporting Economic recoveryIn order to achieve inclusive growth. “withdrawal Stimulus policies “It will be premature,” he wrote on his Twitter account.

The G7 consists of Germany, Canada, the United States, France, Italy, Japan, and the United Kingdom.

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