Yellen Sees Urgency in Boosting IMF Poverty-Fighting Arsenal
- Treasury chief wants quicker debt rework for poor nations
- French president hosting finance chiefs in Paris for summit
Janet Yellen in Paris on June 22.
Photographer: Stefano Rellandini/AFP/Getty Images
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US Treasury Secretary Janet Yellen said there’s a pressing need to bolster the finances of the International Monetary Fund’s flagship trust that tackles poverty, and that richer nations must do more to support poorer countries facing debt stress.
“I see great urgency in bringing the IMF’s concessional window, the Poverty Reduction and Growth Trust, to a more financially sustainable footing,” she said in Paris Thursday. “This is critical to make sure lower-income countries have adequate resources at the fund.”