Thursday, April 25, 2024
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HomeBusinessUS Treasury Secretary to attend G20 meetings in Brazil, Chile for bilateral...

US Treasury Secretary to attend G20 meetings in Brazil, Chile for bilateral engagements

WASHINGTON, USA – From February 27- March 2, 2024, Secretary of the Treasury Janet L. Yellen will travel to São Paulo, Brazil to participate in the G20 Finance Ministers and Central Bank Governors meetings and events on the sidelines, and then will continue to Santiago, Chile for bilateral engagements.

During the G20, secretary Yellen will further America’s leadership role within the multilateral system, which advances our national interests by expanding economic opportunities for the US and our trading partners and fostering cooperation on global challenges.

Secretary Yellen will engage with counterparts to advance shared objectives, including continued efforts to strengthen the global economy, which has improved from previous gatherings – driven significantly by America’s historic economic recovery under president Biden.

Secretary Yellen will emphasize the importance of collective action to build on the economic progress we have made and bolster the global economy for the long-run – such as the work underway to evolve Multilateral Development Banks, strengthen the International Monetary Fund, tackle climate change, and address sovereign debt distress. Secretary Yellen will also work to deepen ties with Brazil, an important economic partner, as well as other key emerging markets.

During the G20 and in meetings with allies and partners, secretary Yellen will reiterate America’s resolute support for Ukraine as it marks the second anniversary of Russia’s illegal invasion; and will also reaffirm the Biden administration’s commitment to provide Ukraine with the support it needs to sustain its defense, deny Russia access to the money and weapons it needs to wage its illegal war, and hold Russia accountable.

Secretary Yellen will also engage with her counterparts on opportunities to build on the progress that has been made and strengthen coordination and collaboration on this critical work, while continuing to mitigate the spillover effects of the war.

While in Brazil, Yellen will also coordinate with G20 counterparts on work to address the humanitarian and economic consequences of conflict in the Middle East and counter destabilizing regional actors.

In Chile, secretary Yellen will engage with counterparts and private sector leaders to deepen the bilateral economic relationship between the United States and Chile, with a focus on Chile’s important contribution to the green transition, including its domestic policies to incentivize renewable energy and its role as a supplier of critical minerals. Continued collaboration on this shared priority benefits both the US and Chile, as it creates good-paying jobs in both countries as the Biden administration spurs historic investments in clean energy, strengthens global energy security, and helps lower costs for consumers.

The United States and Chile have a longstanding and strong relationship, based on shared values and bolstered by a free trade agreement and a new tax treaty – the first bilateral tax treaty to enter into force in over a decade.

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