Yellen to Sitharaman: Will work with India to support global economic recovery

Washington: US treasury secretary Janet Yellen has spoken to Finance Minister Nirmala Sitharaman for the first time and conveyed her intention to collaborate closely with India to support a strong global recovery from the COVID-19 pandemic and enhance cooperation to address shared priorities.

Yellen also appreciated India’s role as a critical partner in fighting the COVID-19 pandemic, the US Department of Treasury said in a readout of the call on Monday.

This was Yellen’s maiden call with Sitharaman after the 74-year-old top economist became the first female treasury secretary of the United States in January this year.

During the call, she “conveyed her intention to collaborate closely to support a strong global recovery from the COVID-19 pandemic, fight inequality, and advance a bold climate agenda,” Yellen appreciated India’s role as a critical partner in fighting the COVID-19 pandemic, the readout said.

“The Secretary looks forward to cooperating with Minister Sitharaman, both bilaterally and multilaterally, to address shared priorities,” it said.

“Finance Minister Smt. @nsitharaman had a fruitful discussion on global economic outlook with US Secretary of Treasury @JanetYellen virtually. Dr. Yellen appreciated India’s contribution to the world’s vaccine efforts,” India’s Ministry of Finance said in a tweet.

Sitharaman congratulated Yellen on the well thought out COVID-19 relief through the $1.9 trillion American Rescue Plan, with particular focus on working and middle-class. They agreed to work closely through common economic and strategic collaboration in various multilateral fora, including the G20, it said.