G20 Expectations: US Treasury Secretary Janet Yellen willing to improve US-China ties
livemint.comBloomberg, the G-7 nations are convening before the Group of 20 meetings in Gandhinagar, Gujarat, with a focus on providing assistance to Ukraine, reforming multilateral development banks, and reevaluating global supply chains. On Sunday, Treasury Secretary Janet Yellen expressed her commitment to collaborating with China on shared areas of interest.
She specifically mentioned the need for cooperation in debt restructuring for economically disadvantaged nations. “I am eager to build on the groundwork that we laid in Beijing to mobilize further action," Yellen said in remarks ahead of a G-20 finance chiefs meeting.
She said her visit to Beijing last week put the relationship between the two biggest economies on “surer footing." Meanwhile, India and the United Arab Emirates agreed to use their respective local currencies for cross-border transactions, as Prime Minister Narendra Modi pushes the rupee’s role on the global stage. The two memorandum of understanding will facilitate “seamless cross border transactions and payments, and foster greater economic cooperation between the two countries," the Reserve Bank of India said in a statement on Saturday, as Modi and the central bank’s Governor Shaktikanta Das inked the agreements with the UAE’s President Sheikh Mohammed Bin Zayed Al Nahyan in Abu Dhabi.
The leaders of the Group of Twenty (G-20) countries will not convene to collectively discuss the language regarding Russia's involvement in the war in Ukraine. In an effort to secure an agreement, the host country, India, is opting for one-on-one discussions instead of a group gathering.
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