Daily Management Review

Yellen urges IMF to step up support for debtor countries


Following discussions with IMF chief Kristalina Georgieva on Tuesday, US Treasury Secretary Janet Yellen praised the IMF's move to lend money to Ukraine and urged the organization to do more to help nations in debt crises.

World Bank / Paul Blake
World Bank / Paul Blake
According to the department's press office, Yellen "urged the IMF to deepen efforts to support low- and middle-income countries facing debt crisis, as well as to continue to pressure all official creditors to complete debt restructuring processes."

Head of the US Treasury Department also applauded the IMF's choice to grant Ukraine a four-year loan package worth $15.6 billion.

The state of the American banking system and the outlook for the economy were among the topics covered by the parties, according to the department. The US Treasury Secretary stated that she anticipates continuing the conversation on these subjects at the IMF and World Bank's spring meetings the following week.

source: cnn.com