U.S. Treasury Secretary Janet Yellen said on Friday she will work at the G20 summit in India to build support to increase lending resources for the International Monetary Fund and the World Bank to help member countries deal with multiple global challenges, including new IMF quota resources.
Yellen said in prepared remarks at a news conference in New Delhi that she will seek to build G20 support for an "equi-proportional" increase in IMF quota funds paid-in by member countries, which would increase IMF lending resources, but not immediately change its shareholding structure.
Yellen highlighted progress on efforts over the past year by the World Bank and other multilateral development banks to vastly expand lending resources and help tackle climate change, pandemics and other global crises. "Those are crucial additional resources for reducing poverty, advancing global health security and combating climate change," Yellen said.
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Online gig work is growing rapidly, but workers lack job protections, a World Bank report saysA World Bank eport says online gig work is growing globally and is creating an important source of employment for women and young people in poorer countries where jobs are scarce.
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