Key Points
WASHINGTON, Feb 17 (Reuters) - U.S. Treasury Secretary Janet Yellen will travel to India next week for G20 finance meetings that will focus on unblocking distressed-country debt restructuring, boosting support for Ukraine and reforming multilateral development banks...
Yellen will join fellow G20 finance ministers and central bank governors in Bengaluru on Feb. 23-25, spanning the first anniversary of Russia's invasion of Ukraine...
At the G20 meetings, Yellen will press China to "quickly deliver" on debt relief for distressed low- and middle-income countries, the official said.. China is due to participate in a debt roundtable discussion on Feb. 25, organized by host India, the IMF and the World Bank, that will focus on broader issues that are creating roadblocks to debt relief deals for Zambia, Sri Lanka and other countries...
The official said the Treasury would "love" to see a deal struck on Zambian debt at the meetings, but the roundtable's main purpose is to make sure that a range of creditors and borrowers, including private sector creditors, all understand the types of, and how to define, common treatment of creditors...
Yellen will also press for consensus on reforming multilateral development banks to vastly expand their lending to tackle pressing global challenges such as climate change and conflict, while maintaining their core missions of reducing poverty, the official said...
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