April 23, 2024

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Media Advisory – Secretary Yellen to Travel to India and Indonesia

Media Advisory – Secretary Yellen to Travel to India and Indonesia

Secretary Yellen will go to the U.S-India Economic and Monetary Partnership in New Delhi, and the G20 Joint Finance and Wellness Ministers’ Assembly and G20 Leaders’ Summit in Bali

WASHINGTON — Secretary of the Treasury Janet L. Yellen will journey to New Delhi, India to take part in the U.S.-India Financial and Financial Partnership on November 11. Secretary Yellen will then vacation to Bali, Indonesia to represent the United States at the G20 Joint Finance and Wellness Ministers’ Assembly on November 12 and accompany President Biden at the G20 Leaders’ Summit on November 15 and 16.

In India on November 11, Secretary Yellen will highlight the toughness of the United States’ partnership with India, which carries on to deepen. The Secretary will meet up with with know-how sector leaders and stop by the Microsoft India Enhancement Center, the place she will produce remarks on the United States’ economic partnership with India. The Secretary will then maintain a bilateral conference with Indian Minister of Finance and Minister of Company Affairs Nirmala Sitharaman. Next the U.S.-India Economic and Economic Partnership (EFP) dialogue, the Secretary will sign up for Minister Sitharaman for a fireside dialogue with executives from main Indian businesses and American providers operating in India. To conclude the day, Secretary Yellen and Minister Sitharaman will indication a joint statement on the EFP dialogue. The Secretary’s remarks and participation in the hearth dialogue will be open up to pre-credentialled press. There will be press sprays with remarks at the best of the EFP and bilateral meeting, and a picture spray at the signing ceremony.

All through her check out to India, Secretary Yellen will talk about how the United States and India have labored together to deepen their economic ties. Secretary Yellen will emphasize the shut ties concerning American and Indian folks and firms, and be aware means we can more our bilateral economic romantic relationship, including as a result of the Indo-Pacific Financial Framework and stronger offer chains through close friend-shoring. She will reaffirm America’s and India’s shared democratic values and dedication to upholding a regulations-dependent international order as the world’s premier democracies. The Secretary will also welcome India’s assumption of the G20 presidency next thirty day period and go over options to make progress on global difficulties through worldwide local weather motion, evolving the multilateral development financial institutions (MDBs), further strengthening global health architecture, and advancing financial debt aid for reduced-income nations around the world and rising markets.

In Bali on November 12, Secretary Yellen will signify the United States at the G20 Joint Finance and Wellbeing Ministers’ Assembly. On November 13, the Secretary will participate in an function celebrating the start of the Pandemic Fund, a historic accomplishment of the G20 Indonesian Presidency for which the United States was an early supporter and one of the biggest donors with an preliminary $450 million contribution. In these gatherings, she will motivate increased guidance from the international neighborhood to build resilience in opposition to long run pandemics, press for strengthening health and fitness-finance collaboration, and emphasize the relevance of the G20 in improving the worldwide pandemic preparedness architecture. The start occasion will be open up to pre-credentialed press and livestreamed.

On November 14, Secretary Yellen will participate in the Just and Inexpensive Energy Transition for Indonesia – Electrical power Transition System Substantial-Level Seminar. There, the Secretary will highlight Treasury’s engagement with vital rising marketplaces like Indonesia that are committed to transitioning to web-zero economies by implementing strong electrical power sector reform agendas. This international action builds on the United States’ most significant-ever financial commitment in preventing weather alter many thanks to President Biden’s Inflation Reduction Act and Bipartisan Infrastructure Law. This occasion will be open up to pre-credentialed press.

On November 15 and 16, Secretary Yellen will accompany President Biden at the G20 Leaders’ Summit.

While in Indonesia, Secretary Yellen will take part in other gatherings and bilateral meetings, which include with Italian Minister of Financial system and Finance Giancarlo Giorgetti. During these gatherings and meetings, the Secretary will sign up for President Biden in rallying our worldwide coalition to hold Russia accountable for its brutal war in Ukraine and to help the people today of Ukraine. Secretary Yellen will also enable guide the worldwide reaction to macroeconomic challenges, including financial disruptions and elevated worldwide inflation from the COVID-19 pandemic and Russia’s illegal war from Ukraine, which are notably harmful to minimal- and center-income nations. The Secretary will go over with counterparts ways to enhance resiliency in the international economic climate from cross-border challenges like weather transform and pandemics—including via amplified local climate finance and evolving the MDBs, all which advance the President’s eyesight for bolstering sustainable investments and infrastructure progress via the Partnership for World Infrastructure and Financial commitment (PGII).

Further engagements and information will be declared in the coming times.