Yellen says to work with Italy, G20 on improving low-income country support

Yellen says to work with Italy, G20 on improving low-income country support

© Reuters. FILE PHOTO: Children queue for food at a school feeding scheme during a nationwide lockdown aimed at limiting the spread of the coronavirus disease (COVID-19) in Blue Downs township near Cape Town

WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Tuesday told Italy’s central bank governor that she would work closely with G20 chair Italy on improving support for low income countries, ending the coronavirus pandemic, ensuring a strong global recovery and fighting climate change, the Treasury said in a statement.

Treasury’s readout of Yellen’s call with Bank of Italy Governor Ignazio Visco came ahead of a virtual meeting of G20 finance ministers and central bank governors on Friday. Italian officials say they plan to press the G20 to back a new $500 billion issuance of International Monetary Fund Special Drawing Rights to aid poor countries — a move that the Trump administration had previously opposed.

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