US: Yellen urges G20 to extend fiscal action amid COVID

By Ovunc Kutlu

ANKARA (AA) - US Treasury Secretary Janet Yellen urged G20 member countries Thursday to continue to take significant fiscal and financial actions and avoid withdrawing support for coronavirus campaigns.

"Our first task must be stopping the virus. Containing the pandemic across the globe is paramount to a robust economic recovery," she said in a letter released by the agency. "A rapid and truly global vaccination program is the strongest stimulus we can provide to the global economy.”

In addition to national vaccination programs and global immunization campaigns, Yellen asked for help for low-income countries because without help they would experience further loss of life and delay their economic recoveries.

On the economic front, Yellen stressed that G20 countries should continue to provide economic support for citizens in rebuilding economies.

She cited US President Joe Biden's $1.9 trillion relief plan, and the Federal Reserve's near-zero interest rates. "If there was ever a time to go big, this is the moment," she said.

"As policymakers of leading economies, we must have frank, open, and sometimes difficult discussions about how to share the burdens and opportunities of transitioning our economies toward a more sustainable, equitable, and prosperous future," she added.