US Treasury Secretary Yellen: Will urge IMF/World Bank to increase econ pressure on Russia

US Treasury Secretary Yellen ahead of IMF/World Bank meetings this week says:

• Will urge IMF, World Bank members to increase economic pressure on Russia while mitigating spillover effects
• Will Underscore US resolve to hold Russia's accountable for war in Ukraine at IMF, World Bank meetings
• Significant focus of IMF/World Bank meetings will be Russia's war against Ukraine along with what more can be done to support Ukraine
• Will make clear benefits and privileges of world's leading economic institutions or four countries respecting core principles of peace and security.
• Russia's finance minister may virtually attend some sessions, but US has made clear it cannot be business as usual
• will not attend some sessions of G 20 finance ministers meeting, but will attend portions supporting Ukraine
• deeply concerned about Russia's reckless war impact on global economy, including rising food insecurity in emerging markets, developing countries
• Yellen will hold bilateral meetings with Ukraine's Prime Minister and finance minister this week
• U.S. Treasury views estimates of 35% contraction in Ukraine economy as daunting, no escaping that Ukraine's needs are very large and urgent
• U.S. Treasury will continue to impose sanctions that further restrict Russian economy
• Yellen is concerned about energy insecurity, will discuss ways to restrict Russia's use of energy revenues while providing allies time to find alternate energy sources
• U.S. Treasury will focus on coming days and weeks on going after those who attempt to evade sanctions on Russia, or facility invasion
• Also working with allies to prevent sanctioned invaders from exploiting financial loopholes to hide their wealth

/Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term