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Major economies should inject 'significant' support for global economy: Yellen

Kitco News

WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen on Thursday warned of the risk of a permanence divergence in the global economy, and urged major economies to strive to provide significant amounts of new fiscal support to secure a robust recovery.

In a statement to the steering committees of the International Monetary Fund and the World Bank, Yellen underscored the need to continue supporting the world’s poorest countries as they grapple with the COVID-19 pandemic, climate change and high debt burdens.

She urged the World Bank to support developing countries and ensure they get timely access to COVID-19 vaccines, and said the United States supported accelerated negotiation to replenish the World Bank’s International Development Association fund for the poorest countries.

Reporting by Andrea Shalal and David Lawder; Editing by Toby Chopra

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