Yellen Seeks Debt Transparency as IMF Eyes Expanded Firepower

U.S. Treasury Secretary Janet Yellen called for greater transparency around the use of International Monetary Fund resources and on existing stocks of debt as global finance chiefs consider an expansion in the IMF’s lending firepower.

“Transparent and comprehensive debt data will help promote sustainable growth,” Yellen said in a to her Group of 20 counterparts Thursday ahead of a virtual meeting Friday of finance ministers and central bankers. She said that while an expansion in the IMF’s resources could help low-income nations in the fight against the coronavirus, the G-20 and others need to work toward “greater transparency and accountability” in the use of the fund’s firepower.