Speaking Friday at a press conference in New Delhi ahead of the G-20 summit, Yellen also said she’s “been surprised by the strength of global growth and how resilient the global economy has proven to be.” She was less upbeat on China’s outlook, saying she sees the world’s No. 2 economy “slowing over time,” but noted that Beijing “has quite a bit of policy space to address these challenges.”
“We also remain committed to support for Ukraine and recently put forward a supplemental funding request,” Yellen said. “I’m pleased that there has been bipartisan support in both houses of Congress, for Ukraine, and I feel confident that we’ll be able to make sure that we have funding.” Boosting concessional finance to address global challenges and for crisis response is a key priority for the Biden administration, which has asked Congress for an additional $2.25 billion to boost such funding from the World Bank.The US expects this could yield as much as $27 billion in concessional finance from the World Bank and hopes its commitment to boosting such resources could help rally peers to also consider similar contributions, a senior Treasury official said.
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