U.S. to push debt relief, Ukraine aid at G20 Finance Meeting in India

U.S. Treasury Secretary Janet Yellen will join fellow G20 Finance Ministers and Central Bank Governors in Bengaluru on February 23-25

U.S. Treasury Secretary Janet Yellen will travel to India next week for G20 finance meetings that will focus on unblocking distressed-country debt restructuring, boosting support for Ukraine and reforming multilateral development banks, a Treasury official said.

Ms. Yellen will join fellow G20 Finance Ministers and Central Bank Governors in Bengaluru on February 23-25, spanning the first anniversary of Russia's invasion of Ukraine.

The senior Treasury official told reporters on Friday that Ms. Yellen would take every opportunity to criticize Russia's actions and to work with allies to try to mitigate spillovers that the conflict has caused, including addressing food insecurity and high energy prices.

Ms. Yellen will also emphasize the need to increase financial support for Ukraine, including a new International Monetary Fund loan program, the official said.

"I wouldn't expect her to engage with Russian counterparts in any way other than to forcefully refute any incorrect statements they make during the meetings," the official said. "And to be very direct in her criticism of Russia and Russia's war."

The official said Ms. Yellen had no meetings with Chinese counterparts to announce at present. Ms. Yellen said last week that she hopes to travel to China for high-level economic meetings, but the timing would be up to the State Department and the Pentagon after of the recent downing of a Chinese surveillance balloon that floated over the continental United States.

At the G20 meetings, Ms. Yellen will press China to "quickly deliver" on debt relief for distressed low- and middle-income countries, the official said.