Yellen made the announcement for the meeting first week by noting that nearly 275million people in all of world are facing severe food insecurity.

He also noted that officials continue to analyze the severity of the situation. Un second Treasury official claimed that Treasury didn’t have any specific assistance target in mind.

“Secretary Yellen is deeply concerned about impacts that Russia’s reckless war are having on the global economy, including the risk of rising food insecurity in emerging markets and developing countries around the world, which are still struggling to recover from the pandemic,” a senior Treasury official said.Īccording to the official, the crisis had hit emerging markets and countries in the developing world that are still trying to recover from the COVID-19 epidemic particularly hard. Russia claims it’s engaged in “special military operations” in Ukraine The meeting will address “the urgent response to the ongoing global food security crisis exacerbated by Russia’s invasion of Ukraine,” and call on international financial institutions to “accelerate and deepen their response,” Treasury said. It said Monday that the meeting would include heads from the International Monetary Fund and World Bank as well as ministers of G7 and G20 nations and technical experts at international financial institutions. Treasury Secret Janet Yellen will host a high-level group on Tuesday to address the ongoing global food security crisis that has been exacerbated in part by Russia’s invasion of Ukraine. Treasury Secretary Janet Yellen testifies before a House Financial Services Committee hearing on “the State of the International Financial System,” on Capitol Hill in Washington, U.S., April 6, 2022.

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