US Treasury Secretary Janet Yellen underscores the G20’s pivotal role in addressing global challenges, in response to the absence of Russian President Vladimir Putin and Chinese President Xi Jinping at the summit. Yellen emphasizes, “It is imperative to underscore that the G20 serves as a paramount mechanism for addressing global predicaments.”
She further elaborates, “We perceive it as a preeminent global organization dedicated to confronting critical issues affecting the worldwide economy, particularly in the global South,” as she addresses the eve of the G20 summit.
Additionally, she highlights, “Even in the absence of Russia’s participation, the G20 remains highly efficacious.”
Notably, the Russian and Chinese Presidents will be notably absent from the G20 Summit in New Delhi. Representing Beijing, Chinese Premier Li Keqiang will participate, while Russian Foreign Minister Sergey Lavrov will represent Moscow at the summit.
Yellen expresses her belief that the G20, despite challenges stemming from Russia’s conflict in Ukraine and its limited engagement in G20 initiatives, has demonstrated significant effectiveness, particularly under India’s leadership. She emphasizes their shared objectives and successful endeavors in reshaping the global multilateral development system.
Furthermore, Yellen underscores the United States’ commitment to strengthening its relationship with India and enhancing trade and cooperation, marking a central focus in the upcoming days.
“Advancing the US-India partnership remains a top priority this week. We highly value our bilateral ties with India. Moreover, we extended a warm welcome to PM Modi during his visit to the US in June. The United States hosts the largest Indian diaspora outside of Asia and stands as India’s largest export market,” she states.
In addition, Yellen announces her intention to seek support at the G20 summit in India to bolster lending resources for the International Monetary Fund and the World Bank, crucial for assisting member nations in addressing multiple global challenges.
The G20 Leaders Summit is slated to convene in New Delhi on September 8-9.
