Treasury Secretary Janet Yellen will speak with the press Tuesday morning as the spring meetings of the World Bank and International Monetary Fund (IMF) begin in Washington, D.C.
Yellen is expected to spell out an expansion in scope for the institutions to address concerns such as the global climate crisis and its disproportionate impact on lower-income nations.
The other top policy priority for the U.S. at the meetings will be providing support for Ukraine, which, as Russia’s second year of attacks continues, will also mean upholding sanctions against the aggressor state.
Yellen has described the changes as evolutionary, with a key element the encouragement of partnerships with private sources of capital for various projects.
Yellen’s nominee to serve as World Bank president, Ajay Banga, who is running unopposed, will very likely be approved, but because he hasn’t yet assumed the top role, he will observe this week’s proceedings without directly participating.