Yellen says G20 must act to address short-term food insecurity crisis

Yellen said countries should target fiscal support measures to help those most in need, rather than adopting costly and regressive blanket subsidies.

U.S. Treasury Secretary Janet Yellen on Friday urged Group of 20 major economies to take urgent action to address a short-term food insecurity crisis exacerbated by Russia's war in Ukraine. Picture: Saul Loeb/Pool photo via AP)

U.S. Treasury Secretary Janet Yellen on Friday urged Group of 20 major economies to take urgent action to address a short-term food insecurity crisis exacerbated by Russia's war in Ukraine, and avoid market-distorting export restrictions and stockpiling.

Yellen, speaking at a meeting of G20 finance officials in Indonesia, said countries should target fiscal support measures to help those most in need, rather than adopting costly and regressive blanket subsidies.