Secretary of the Treasury Janet L. Yellen, Deputy Secretary of the Treasury Wally Adeyemo, and other senior Treasury officials will represent the United States in the 2023 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) and will participate in events on the margins from Monday, April 10, through Friday, April 14 in Washington, DC. Secretary Yellen will also represent the United States at the G20 Finance Ministers and Central Bank Governors meetings on the sidelines of the Spring Meetings.
During the Spring Meetings, Secretary Yellen will coordinate with counterparts on the challenges and opportunities facing the global economy. Secretary Yellen will mark major advances like the IMF’s new $15.6 billion economic program in Ukraine and efforts to evolve the multilateral development banks. Our initial work is enabling the World Bank to deliver up to $50 billion in additional financing capacity over the next decade to combat extreme poverty, boost economic growth, and mitigate and adapt to climate change.
Throughout the week, Secretary Yellen will work with partners from across the world to coordinate on action to make the global economy stronger and address shared challenges – including those stemming from Russia’s illegal war in Ukraine – like food insecurity and volatile energy prices. She will redouble her engagement with international counterparts on collaborating to create more resilience in the global financial system.
Secretary Yellen will mark key steps in the MDB Evolution effort to better meet global challenges like combatting climate change in a way that enhances work to combat poverty. That includes the candidacy of Ajay Banga to serve as President of the World Bank. The Secretary will stress that taken together, new vision and new leadership will help transform the Bank to better meet its updated mission while unlocking and mobilizing additional resources to get it done.
The Secretary will continue to press for coordinated economic support for Ukraine alongside our partners and will note the significance of the IMF’s new economic program in Ukraine. Secretary Yellen will also discuss with counterparts during the week the continuing work with our coalition to deny Russia the equipment and revenue it needs to pursue its illegal war, including by continuing to tighten our efforts against sanctions evasion. The Secretary will highlight our historic sanctions coalition, including the price cap, which is contributing to dramatic declines in Russian energy revenue – its most important source of funding.
During the week, Secretary Yellen will also maintain urgency for the speedy resolution of Common Framework cases like Zambia and Ghana to remove debt overhangs and foster growth in developing countries. She will also stress the importance of concluding the debt treatment for Sri Lanka.