US Treasury Secretary Janet Yellen called on the G20 countries not to skimp on economic stimuli to face the crisis caused by the COVID-19 pandemic and to intensify their support for vaccination programs.
“I urge G20 countries to continue to take significant fiscal and financial policy actions and avoid withdrawing support too early. If there was ever a time to go big, this is the moment,” the official said in a letter.
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Yellen expressed the US’s support for multilateral initiatives such as the Accelerator of access to tools against COVID-19 and the Covax Mechanism while asking countries to increase their support for these instances.
All countries must take urgent measures to use the benefits of the international market and invest in the current situation, said the official in the letter, presented during a virtual meeting of the group’s financial authorities.
Yellen added that cooperative efforts will yield more results than the sum of individual responses from each country.
The US Treasury secretary said that containing the pandemic is a priority to think about an economic recovery.
“Containing the pandemic around the world is critical to strengthening the economic recovery,” Yellen said.