Gandhinagar (India) (EFE).- The US Treasury Secretary, Janet Yellen, assured this Sunday that she is willing to work with China on issues of mutual interest such as debt restructuring in emerging economies, among other global challenges.
G20 meeting
Yellen’s willingness, who is in India to participate in the G20 Finance and Central Bank Ministers’ Meeting, comes a week after the Treasury secretary’s trip to Beijing to meet Chinese economic leadership.
“There is a lot more work to do, but I think this trip was an important start. I am anxious to build on the foundation that we established in Beijing to mobilize more actions,” the secretary said today at a press conference in the Indian city of Gandhinagar, where the third meeting of the G20 financial chiefs will begin tomorrow, under the presidency of India.
The United States has been putting great pressure on China so that it participates together with the rest of the creditor countries and financial institutions in the restructuring of the debt of several developing and crisis economies such as Sri Lanka or Zambia.
“Last week’s visit served as a step forward in putting our relationship on a more secure footing and establishing a resilient and productive channel of communication,” he said, referring to his trip to Beijing.
As in the past two G20 Finance meetings, the United States says it will put pressure on official bilateral creditors, including China, to seek meaningful debt treatments for struggling emerging countries.
“This week I will continue to press for the full and timely participation of all official bilateral creditors in pending debt restructuring cases,” he remarked today.
Members of the G20 and organizations such as the World Bank and the International Monetary Fund (IMF) are trying to undertake reforms that will allow them to provide the necessary assistance.