Yellen to meet Polish prime minister at start of trip to G7 finance meeting

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WASHINGTON: US Treasury Secretary Janet Yellen will meet with Polish Prime Minister Mateusz Morawiecki on Monday (May 13) to discuss how Russia’s invasion of Ukraine affects Poland’s economy as part of a week-long trip that also will take her to Brussels and a G7 finance leaders meeting in Germany.

While in Warsaw, Yellen will “express her gratitude for the generosity Poland has shown in welcoming refugees” and will discuss the rising threat of food insecurity and a global minimum tax deal that will raise critical revenues, the US Treasury Department said in a statement.

Yellen on Monday also will meet with Polish Finance Minister Magdalena Rzeczkowska and National Bank of Poland Governor Adam Glapinski, as well as US Ambassador to Poland Mark Brzezinski. The Treasury said throughout her meetings, Yellen will discuss the Russian invasion’s impact on Poland’s economy, particularly on inflation, and on its fiscal policy and supply chains.

Yellen also will visit facilities for Ukrainian refugees, including the World Central Kitchen, which is providing meals for refugees and highlight the Treasury Department’s ongoing efforts to address food security challenges arising from Russia’s invasion and blocked Ukrainian grain and exports.

On Tuesday in Brussels, Yellen will meet with European Commission President Ursula von der Leyen and US Ambassador to the European Union Mark Gitenstein, the Treasury said.

“These meetings will focus on the impact of Russia’s war against Ukraine, including European energy security and Russian energy imports, Ukraine’s economic assistance needs, and on the implementation of the global tax agreement,” the Treasury said.

Yellen also will deliver remarks to the Brussels Economic Forum 2022 on the war’s impact on the global economic outlook and the future of multilateral.

At the G7 finance ministers and central bank governors meeting in Bonn, Germany, Treasury said Yellen will work to advance the global recovery and discuss steps to increase economic pressure on Russia to end its invasion.

The G7 is made up of closely allied wealthy industrial democracies: Canada, Britain, France, Germany, Italy, Japan and the United States.