Yellen says India’s leadership in G20 highly effective and the group has achieved success on multiple important issues under its presidency…reports Asian Lite News
Secretary of the Treasury, Janet L. Yellen on Friday said that America is looking forward to advancing the US-India relationship at the G20 summit and increasing collaboration in supporting the global agriculture and food security program.
Speaking at a press briefing, she said, “We hope to move forward our efforts such as supporting the global agriculture and food security program. Continuing to advance the US-India relationship will be a priority this week. We highly value our bilateral relationship with India. We also welcomed PM Modi to the US in June. The United States is the home to the largest Indian diaspora outside Asia and is India’s largest export market.”
US Secretary affirmed that India’s leadership in the G20 remain highly effective and the group has achieved success on multiple important issues under its presidency.
Yellen said, “G20 has been effective, especially under India’s leadership. Our goals for the G20 have coincided with those of India. We have tackled very important challenges and we have had considerable success in changing way the entire multilateral development system.”
Yellen also commented on the World Bank’s concerns about high-interest rates and slow global growth and stressed that Russia’s war on Ukraine has inflated energy and food prices.
She said, “Certainly, we are aware of the risk to global growth. The most negative influence is Russia’s war on Ukraine which has escalated energy and food prices. At many G20 meetings have stated repeatedly, that the most important thing we could do for global growth is for Russia to end its brutal war on Ukraine. Recently the IMF has somewhat improved its economic projections.”
When asked about Russian President Vladimir Putin and Chinese President Xi Jinping not attending the G20 Summit in Delhi, she emphasised that the G20 is a prime solution to global challenges and an important platform for taking on critical challenges.
She added, “It is important to emphasise that the G20 is a prime solution to the global challenges. We see it as a premier organisation on a global basis that is taking on critical challenges facing the global economy and particularly the global South. I believe the G20, in spite of obvious problems due to Russia’s war against Ukraine and Russia’s general absence from G20 initiatives, has been extremely effective, especially under India’s leadership. Our goals for the G20 have coincided closely with those of India. We have tackled very important challenges. I think we have had considerable success in changing the way the entire multilateral development system is operating.”
India is hosting the G20 Leader’s Summit in the national capital at the newly inaugurated Bharat Mandapam on September 9-10.
The summit is being attended by more than 30 heads of state and top officials from the European Union and invited guest countries and 14 heads of international organisations.
The countries taking part in the G20 Summit include Nigeria, Argentina, Italy, the AU (represented by Comros), and South Africa. Bangladesh, the United Kingdom, Japan, Saudi Arabia, the Republic of Korea, Egypt, Australia, the United States, Canada, China, Russia, the U.A.E, Brazil, Indonesia, Turkey Spain, Germany, France, Mauritius, the European Union, and Singapore.
During the two-day summit, several dignitaries are scheduled to visit Rajghat to pay homage to Mahatma Gandhi. (ANI)
ALSO READ-Biden to Bat For ‘Reshaping’ World Bank, IMF At G20