U.S. Treasury Secretary Janet Yellen announced on Friday that Washington is firmly committed to the work of the G20 finance ministers despite the group's failure to reach any consensus on a statement regarding the ongoing wars in Ukraine and Gaza. Yellen noted that financial officials from the G20 have successfully worked on shared priorities, including negotiating a historic international tax agreement, establishing a fund for future pandemic threats, and joint efforts to reform multilateral development banks. She added, "That really is just the beginning of the list... so I believe we have made significant progress."
The finance ministers of the G20 countries failed to agree on a joint statement on Thursday at the conclusion of two days of talks, with divisions over the wars in Gaza and Ukraine overshadowing efforts to achieve consensus on global economic development. Yellen stated at a press conference at the Treasury Department in Chile, "Many countries, including the United States, expressed their rejection of Russia's actions in Ukraine and also highlighted its negative economic repercussions for the world as a whole, including developing countries." She added, "We and many others have expressed our deep concern about the humanitarian situation in Gaza. I think there is broad consensus on these concerns." She continued, "But it's difficult to come up with language that can achieve unanimity."
