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Yellen Embarks on Nine-Day International Trip to Address Global Economic Challenges

Published 06/10/2023, 14:28
Updated 06/10/2023, 14:28
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In a move aimed at addressing global economic enhancement and challenges, U.S. Treasury Secretary Janet Yellen embarked on a nine-day international trip on Friday. The journey includes attending the IMF and World Bank Group Annual Meetings in Marrakech, where she will discuss various issues such as climate change, pandemics, and conflict.

Yellen's agenda includes a speech at the Mohammed VI Polytechnic University, highlighting MDB reform progress and U.S. support for Ukraine amidst Russia's war. She will also participate in the G20 Finance Ministers and Central Bank Governors Meeting, MDB Evolution Roundtable, IMF Roundtable, Ukraine Ministerial Roundtable, and a facilities tour supported by the World Bank.

Beyond Marrakech, Yellen is set to attend Luxembourg's Eurogroup Finance Ministers Meeting to bolster U.S.-EU relations and coordinate Ukraine support. Other engagements include a Global Sovereign Debt Roundtable, World Bank Development Committee plenary meeting, G20 Finance Ministerial meeting, a press conference at the Mohammed VI Museum for Water Civilization, the Poverty Reduction and Growth Trust (PRGT) Roundtable, and a working dinner for G20 finance ministers.

Notably, the Treasury Secretary will be discussing IMF quotas and strengthening EU-US ties during her trip. In Luxembourg, she is expected to meet with euro area finance ministers to discuss a critical minerals cooperation agreement set to be advanced during a meeting with European Commission President Ursula von der Leyen and European Council President Charles Michel.

One of Yellen's significant tasks involves addressing the Russian oil price cap issue due to Ukraine's invasion. She will also host an IMF roundtable and participate in the Global Sovereign Debt Roundtable to address debt restructuring issues for low-income countries, emphasizing China's role in debt relief.

Additionally, Yellen will deliver a reform speech at the World Bank advocating increased funding for climate change initiatives, which is expected to contribute to the ongoing global dialogue on sustainable development. A potential meeting with Chinese officials, facilitated by established US-China working groups, could further US-China economic relations and set the stage for a future Biden-Xi meeting.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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