WASHINGTON – Today, Secretary of the Treasury Janet L. Yellen met with United Kingdom Chancellor of the Exchequer Rachel Reeves on the margins of the 2024 Annual Meetings of the International Monetary Fund and the World Bank. Secretary Yellen condemned the actions of Russia and discussed the Extraordinary Revenue Acceleration (ERA) Loans initiative to Ukraine, and collaboration on the international financial institutions. Secretary Yellen also raised the importance of promoting economic stability in the West Bank, including by maintaining correspondent banking relationships between Palestinian and Israeli banks. Both Secretary Yellen and Chancellor Reeves shared significant concerns that severing these banking ties would lead to instability and would harm Israel’s security. Both expressed that the Israeli indemnification for these banking relationships should be extended as soon as possible for a year.
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