The IMF needs more tools to fight modern, potentially more frequent global crises, Treasury Secretary Janet Yellen argued in a speech to the Atlantic Council this week. #IMFMeetings #G20
Health, climate and development challenges are creating worse economic shocks and leading to crises that are harder to solve. In the face of crisis, countries with more resources can act forcefully while poor countries get left behind.
Yellen’s speech comes days before she joins world leaders for #G20, World Bank and #IMFmeetings focused on developing countries struggling with debt, vaccine access and climate change. The Ukraine war brings a new shock to the global economy that leaders will discuss.
Recently, the IMF warned that 60% of poor countries face debt crisis or economic instability.
The Ukraine war adds to dramatic debt challenges in countries that already struggled with the pandemic. It's clear that we need stronger, more efficient tools to solve economic crises.
The Ukraine war adds to dramatic debt challenges in countries that already struggled with the pandemic. It's clear that we need stronger, more efficient tools to solve economic crises.
@SecYellen addressed international tax, trade, climate finance, health and pandemic preparedness reforms to modernize global financial institutions so they are fit to face global 21st century challenges.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
