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Yellen urges G7 to keep up fiscal support for recovery, climate investments

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LONDON: US Treasury Secretary Janet Yellen (pictured) said on Saturday that she is urging the G7 wealthy democracies and other countries to keep up fiscal support for their economic recoveries and to make investments to fight climate change and inequality.


“G7 economies have the fiscal space to speed up their recoveries to not only reach pre-Covid levels of GDP but also to support a return to pre-pandemic growth paths’’, Yellen said. “This is why we continue to urge a shift in our thinking from ‘let’s not withdraw support too early’ to ‘what more can we do now.’”


Yellen said the G7 finance ministers agreed to ambitious commitments to de-carbonise their economies and mobilise public and private finance for action to combat climate change. — Reuters


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