WASHINGTON: U.S. Treasury Secretary Janet L. Yellen chaired a meeting of the “Five Finance Ministers” which includes Australia, Canada, New Zealand, and the United Kingdom. The ministers shared perspectives on global economic challenges and reflected on the distinct challenges stemming from Russia’s illegal and unprovoked war against Ukraine. The ministers also discussed the need for cooperation to respond to the threat and use of economic coercion.
Secretary Yellen underscored the importance of close collaboration among partners and allies to secure our economies and develop greater resilience against global supply chain disruptions caused by Russia’s war, the ongoing effects of the COVID-19 pandemic, and other factors. The ministers look forward to future engagements and reaffirmed their commitment to deepen cooperation to further shared priorities in the Indo-Pacific and beyond.