MEDIA ADVISORY_ Secretary of the Treasury Janet L. Yellen to Journey to India and Vietnam

WASHINGTON — Secretary of the Treasury Janet L. Yellen will journey from July 13-21 to Gandhinagar, India to take part within the G20 Finance Ministers and Central Financial institution Governors conferences after which to Hanoi, Vietnam for bilateral engagements

Whereas on the G20, Secretary Yellen will proceed to construct momentum for the collective effort that she helped launched final October to evolve the multilateral improvement banks to higher meet world challenges whereas delivering on core improvement targets. In India, Secretary Yellen will proceed work in direction of debt sustainability to bolster the worldwide financial system: with over half of all low-income international locations at excessive danger of or in debt misery, it’s essential that we take collective motion to assist put them – and by extension the worldwide financial system – on a surer footing.

Lastly, Secretary Yellen will stress the significance of deepening our bilateral relationship with India throughout her third go to to the nation within the final 9 months. As President Biden mentioned final 12 months, India is one in all America’s indispensable companions, and Secretary Yellen will use her participation on the G20 in Gandhinagar to assist deepen our already important relationship.

Whereas in Vietnam, Secretary Yellen will work in direction of deepening our bilateral financial relationship with Vietnam and bolstering financial resilience. Over the 28 years for the reason that U.S. and Vietnam have normalized diplomatic relations, commerce between our two international locations has grown at an astounding annual charge of practically 25 p.c, and our items commerce reached a document excessive final 12 months. Throughout her go to to Vietnam, Secretary Yellen may even spotlight how the financial shocks of current years have supplied an vital reminder of the significance of bolstering financial resilience, together with by constructing safe and dependable provide chains throughout many trusted companions like Vietnam by way of ‘friendshoring’.

Whereas in Hanoi, Secretary Yellen will search to work in partnership with international locations like Vietnam to energy a world clear vitality transition. Local weather change represents an existential world risk, in addition to an infinite financial alternative. The Biden Administration is dedicated to performing at residence and overseas to satisfy the second. At residence, we’ve made an unprecedented funding by way of the Inflation Discount Act to satisfy our emissions targets and spur on a whole bunch of billions of {dollars} of personal funding in inexperienced expertise – investments which is able to drive a constructive spillover globally by way of decrease prices. And in Vietnam, we have now labored with the Worldwide Companions Group to mobilize over $15 billion to assist the nation’s vitality transition.

Lastly, Secretary Yellen will proceed america and Vietnam’s work collectively to handle foreign money points. The USA and Vietnam are trusted companions with friendship grounded in mutual respect. Vietnam has maintained a constructive dialogue with Treasury and labored to handle considerations about Vietnam’s foreign money practices. Secretary Yellen will spotlight this progress throughout her go to to Vietnam as one instance of how our international locations can work collectively to handle challenges and assist improve Vietnam’s monetary and macroeconomic resilience.

On July 16, Secretary Yellen will maintain a press convention in Gandhinagar forward of the G20. The occasion shall be open to pre-credentialed press and livestreamed right here.

Within the afternoon, Secretary Yellen will be part of World Financial institution President Ajay Banga in touring a challenge supported by the World Financial institution to spotlight the significance of evolving the multilateral improvement banks to higher handle world challenges. This occasion shall be pooled for pre-credentialed press.

Within the night, Secretary Yellen will attend the Finance Ministers and Central Financial institution Governor’s welcome dinner. The assembly is closed press.

On July 17, Secretary Yellen Secretary Yellen will take part in Session 1 of the G20 Finance Ministers and Central Financial institution Governors Assembly on International Economic system and International Well being. The assembly is closed press.

Within the afternoon, Secretary Yellen will take part in a bilateral assembly with Minister of Finance of India Nirmala Sitharaman. In the course of the assembly, Secretary Yellen will emphasize the necessity for concrete progress on world challenges on the G20 conferences, together with on debt and the evolution of the multilateral improvement banks. There shall be press spray with remarks in the beginning of the assembly for pre-credentialed press.

Later, Secretary Yellen will take part in Session 2 of the G20 Finance Ministers and Central Financial institution Governors Assembly on Sustainable Finance and Infrastructure. The assembly is closed press.

After, Secretary Yellen will take part in a bilateral assembly with European Commissioner for Economic system Paolo Gentiloni. There shall be a photograph spray on the high of the assembly.

Within the night, Secretary Yellen will take part in a G20 working dinner. The dinner is closed press.

On July 18, Secretary Yellen will take part in Session 3 of the G20 Finance Ministers and Central Financial institution Governors Assembly on Worldwide Monetary Structure. The assembly is closed press.

Later, Secretary Yellen will take part in Session 4 of the G20 Finance Ministers and Central Financial institution Governors Assembly on Worldwide Taxation. The assembly is closed press.

Within the afternoon, Secretary Yellen will take part in Session 5 of the G20 Finance Ministers and Central Financial institution Assembly on the Monetary Sector and Monetary Inclusion. The assembly is closed press.

Following the conferences, Secretary Yellen will depart for Vietnam.

On July 20, Secretary Yellen will maintain a bilateral assembly with the State Financial institution of Vietnam Governor Nguyen Thi Hong. In the course of the assembly Secretary Yellen will categorical satisfaction with our work collectively to handle considerations about Vietnam’s foreign money practices as a part of growing Vietnam’s monetary and macroeconomic resilience. She is going to stress america is supportive of Vietnam’s development and underscore that it’s good for each the Vietnamese and the American folks. There shall be press spray with remarks in the beginning of the assembly for pre-credentialed press.

Secretary Yellen will then take part in a bilateral assembly with Prime Minister Pham Minh Chinh. In the course of the assembly Secretary Yellen will stress that the deep financial ties between the U.S. and Vietnam assist create higher financial resilience by way of what she calls “friendshoring.” There shall be press spray with remarks in the beginning of the assembly for pre-credentialed press.

Secretary Yellen will then take part in a lunch with girls economists and entrepreneurs. There shall be press spray with remarks in the beginning of the lunch for pre-credentialed press.

Secretary Yellen will take part in a bilateral assembly with Communist Social gathering of Vietnam Central Financial Fee Chair Tran Tuan Anh There shall be a photograph spray on the high.

Later, Secretary will take part in a web site go to to spotlight our work collectively to energy a clear vitality transition. Further particulars will supplied nearer to the occasion.

On July 21, Secretary Yellen will take part in a bilateral assembly with Minister of Finance Ho Duc Phoc. In the course of the assembly Secretary Yellen will stress that america considers Vietnam a key accomplice within the Indo-Pacific and spotlight efforts to deepen the already important commerce and funding ties between our two international locations. There shall be press spray with remarks in the beginning of the assembly for pre-credentialed press.

Later, Secretary Yellen will ship remarks to debate the significance of creating resilient provide chains by way of efforts like ‘friendshoring’ and combatting local weather change.

Within the afternoon, Secretary Yellen will take part in a lunch with the State Financial institution of Vietnam Governor. There shall be press spray with remarks in the beginning of the assembly for pre-credentialed press.

Secretary Yellen will then take part in moderated dialogue at a Feminine Management Convention within the Financial Sector hosted by International Commerce College. The occasion is open to pre-credentialed press.

Following the dialogue, Secretary Yellen will take part in a gathering with Nationwide Meeting Chairman Vuong Dinh Hue. There shall be a photograph spray in the beginning of the assembly for pre-credentialed press

Afterwards, Secretary Yellen will return to america.

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