Yellen Calls for More Ukraine Support as G20 Finance Ministers Gather

The Treasury secretary said that the United States had already provided more than $46 billion in security, economic and humanitarian assistance to Ukraine and that another $10 billion in economic support would be delivered in the coming months. Ms. Yellen also called on the International Monetary Fund to “move swiftly” with a fully financed loan package for Ukraine. The I.M.F. last year approved more than $1 billion in emergency financing to Ukraine to mitigate the economic impact of the war.

“Continued, robust support for Ukraine will be a major topic of discussion during my time here in India,” Ms. Yellen said.

Despite the urgency to address the crisis in Ukraine, Ms. Yellen offered an upbeat assessment of the global economy, which has begun to recover. While she acknowledged that headwinds remained, she said the world was on more stable footing than last fall, when many were forecasting a global recession.

“It’s fair to say that the global economy is in a better place today than many predicted just a few months ago,” Ms. Yellen said, pointing to a recent global growth upgrade from the I.M.F.

She added that the United States economy was proving to be resilient, with inflation moderating while the labor market remains strong.

Article source: https://www.nytimes.com/2023/02/23/business/yellen-ukraine-g20.html