Yellen Urges G-20 Countries to Increase Support for Global Vaccination Efforts

WASHINGTON—Treasury Secretary Janet Yellen urged the Group of 20 international locations to maximize their help for global vaccination applications, citing “the higher, unmet demands of these initiatives.”

“A swift and definitely global vaccination program is the strongest stimulus we can deliver to the global economic system,” she mentioned in a letter dated Feb. 25 to her colleagues in the G-20, which involves China and other rising-current market economies.

Ms. Yellen lifted concerns about very low-profits international locations in distinct, which she mentioned could practical experience even further fatalities and a useless delay of their financial recoveries without the need of accessibility to vaccines.

She also emphasized the need for a coordinated response to the global disaster and urged G-20 international locations “to continue on to take significant fiscal and financial-plan actions and stay away from withdrawing help as well early.”

Ms. Yellen mentioned an allocation of distinctive drawing legal rights, a style of reserve currency developed by the Worldwide Financial Fund, could enrich liquidity for very low-profits international locations to assist their recovery efforts.