- Thursday, February 27, 2025
This will be her fourth visit to the south Asian nation in 10 months.
By: Shubham Ghosh
US TREASURY secretary Janet Yellen is set to visit New Delhi to take part in the G20 leaders’ summit scheduled for September 9 and 10. This will be her fourth visit to the south Asian nation in 10 months, the US treasury department on Thursday (31) said, Reuters reported.
At the summit, the 77-year-old economist plans to focus on strengthening the global economy and supporting low- and middle-income nations by facilitating efforts on restructuring debts, evolution of multilateral development banks and building International Monetary Fund trust fund resources, the treasury department added.
It estimated that the lenders can together unlock $200 billion (£158 billion) in new financing over a decade with balance sheet measures now being implemented or under discussion, the report added.
Yellen is also expected to rally Washington’s G20 allies to maintain economic backing for war-ravaged Ukraine and raise costs on Russia over its war in the east European nation. Among the steps are supporting the G7-led price cap on Russian oil exports and strengthening global food security in the face of restrictions on Ukrainian grain exports.
The treasury department also said the secretary will work to deepen Washington’s bilateral ties with New Delhi. Last November, she called India a prime “friend-shoring” destination and alternative to China as far as the US’s investment and supply chains are concerned.
