'US working closely with India'

US Secretary of the Treasury Janet Yellen on Tuesday said that the US is working closely with India during its G20 Presidency on global economic issues.

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She said that the “close collaboration” between India and the US showcases how “advanced and emerging economies” can bridge political differences and make progress on shared policy objectives.

While addressing the US-India Business Council India Ideas Summit on Tuesday, Janet Yellen said, “We are working closely with India during its G20 presidency on global economic issues. I believe that our close collaboration is showing the world how advanced and emerging economies can bridge policy differences and make progress on our shared policy objectives. When India and the United States work together, we can add significant momentum to important efforts.” India assumed the G20 Presidency on December 1, 2022. Janet Yellen stressed that debt distress in developing nations continues to pose a risk to macroeconomic growth and stability. She stated that more needs to be done to provide “timely and comprehensive debt treatments.”