Markets Wired

Earlier today, Secretary of the Treasury Janet L. Yellen spoke with World Bank President David Malpass. During the call, they stressed the need for close coordination on efforts to respond to the health and economic impacts of the COVID-19 pandemic, improve vaccine access for the poorest countries, and combat climate change. Secretary Yellen emphasized that climate change is an existential threat to our environment and global economy and urged robust support to low-income countries. The Secretary highlighted the need to work closely to help countries reduce debt vulnerabilities and improve debt sustainability and transparency.  She noted her appreciation for the World Bank’s efforts in these areas.