Yellen: Russia’s war weighs on the economy, let’s watch China – the economy

Yellen: Russia’s war weighs on the economy, let’s watch China – the economy

The most destabilizing factor remains Moscow’s aggression against Kiev, which “led to higher food and energy prices and we are aware of the risks to global growth.” Treasury Secretary Janet Yellen speaks on the eve of the G20 summit in New Delhi, “The most important thing we can do for global growth is for Russia to end its brutal war against Ukraine,” he said. As for China, Yellen noted in her meeting with the media in New Delhi that “there is a slowdown in the economy” which “requires adjustment policies. We are monitoring it, but I do not see any major impacts on the United States.”

The United States intends to work at the G20 summit to “create support for increased lending resources for the IMF and World Bank” with the goal of “helping member countries address multiple global challenges,” including new resources in IMF shares. Yellen said she would try to create conditions for a “proportionate” increase in IMF quota funds paid by member states, which would increase the institution’s lending resources, but would not change immediately. shareholding structure. Yellen added, in a press conference broadcast live in New Delhi, that she would spend the money on alleviating the debt burden of poor countries, a topic she emphasizes at every international meeting, especially where the largest bilateral lender in the world, China, is present. The Council further noted that “we continue to support efforts to provide predictable, orderly and timely debt relief to countries, including under the Common Debt Addressing Framework (G20), where progress has been very slow.”

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Modi will host Biden for a private dinner this evening

USA President Joe BidenA few hours after his arrival in Delhi late this afternoon, Prime Minister Modi will be hosted for a private dinner at his official residence. The bilateral meeting and special invitation comes three months after Modi’s official visit to the United States, while for Biden this will be his first visit to India after his election to the presidency. Before the meeting with Biden, Modi will participate this afternoon in bilateral meetings with the Prime Minister of Bangladesh and the leader of Mauritius. Sources from the Prime Minister’s Office explained that on the sidelines of the agenda of the G20 summit, between today and Sunday, Modi will hold fifteen bilateral meetings with leaders of many countries. The meeting with Italian Prime Minister Giorgia Meloni is scheduled to take place on Sunday.

British Prime Minister Sunak arrived in New Delhi to attend the G20 summit

British Prime Minister Rishi Sunak arrived in New Delhi to attend the G20 summit in India, which last year overtook its former colonizer to become the world’s fifth-largest economy. Sunak, who is of Indian origin, is making his first visit to the country since taking office in Downing Street: he arrived with his wife Akshata Murty, the daughter of one of the richest men in the Asian country. A troupe of dancers welcomed Sunak, after a ceremony dedicated to all the leaders who attended the summit, as he walked on the red carpet at New Delhi airport. The Prime Minister said his main points would be support for Ukraine after Russian President Vladimir Putin’s invasion and the global economy. Kremlin boss won’t be there: “Putin will not show up again at the G20 summit, but we will show up to support Ukraine,” Sunak wrote on Channel X, before landing in New Delhi. Argentine President Alberto Fernandez was the first leader to arrive in the Indian capital this morning.

Dinner for 400 guests at the Presidential Palace on Saturday evening

A dinner party for 400 guests at Indian President Draupadi Morneau’s residence in Delhi, one of the social highlights of the G20 summit, will be on the sidelines of the official meeting agenda. The Saturday evening dinner will be accompanied by a live soundtrack by a group of musicians representing the country’s various classical musical traditions. The Indian Ministry of Culture announces that in the three-hour show, out of nearly a hundred musicians, a very young violinist of just six years of age will also play.

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