Yellen calls on G20 to spice up assist for meals insecurity, gives debt freeze By Reuters

By Andrea Shalal

WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen urged Group of 20 finance and agriculture ministers on Tuesday to take pressing steps to assist the 70 million folks prone to acute meals insecurity on account of Russian President Vladimir Putin’s warfare in Ukraine.

Yellen instructed the inaugural assembly of G20 joint finance and agriculture ministers that Putin and his officers – together with these participating in conferences in Washington this week – had been liable for “immense human struggling” brought on by the warfare, a Treasury official stated.

“That features the harmless lives taken by President Putin’s barbaric missile assaults throughout Ukraine yesterday,” she stated, referring to probably the most widespread wave of air strikes to hit away from the entrance line because the begin of the warfare on Feb. 24.

Russia says it’s waging a “particular navy operation” in Ukraine to rid it of nationalists and shield Russian-speaking communities. Ukraine and the West say it’s an unprovoked warfare of aggression.

Yellen stated Russia’s blockade of ports and destruction of agricultural infrastructure had disrupted world provide chains and meals manufacturing, with the affect felt significantly in creating international locations that Russia “falsely claims to help.”

She harassed that U.S. sanctions on Russia don’t goal the manufacturing, manufacture, sale, or transport of agricultural commodities, together with fertilizer, and urged G20 officers to make sure their industries knew that sanctions shouldn’t impede the circulate of agricultural commodities to those that want them.

She additionally referred to as on G20 international locations to extend monetary assist to initiatives such because the International Agriculture and Meals Safety Program, to which Washington simply gave $155 million, and to keep away from all meals export restrictions.

America had introduced almost $10 billion in help this 12 months to offer essential help to food-insecure international locations, Yellen stated.

She stated G20 members ought to urge worldwide monetary establishments to proceed implementing commitments made of their Motion Plan to Sort out Meals Insecurity.

Washington would additionally help non permanent debt service standstills for international locations that wanted debt reduction and sought assist underneath the G20 Frequent Framework adopted in late 2020, she stated.

The group as an entire provided a freeze in debt service funds to low-income international locations from Might 2020 by means of the tip of 2021, suspending $12.9 billion in debt-service funds, however refused to increase it into 2022.