Sitharaman, Yellen urge bilateral cooperation amid geopolitical uncertainty

Visiting US official speaks about 'shared goals' on climate change, debt burden of developing countries

Union Finance Minister Nirmala Sitharaman and United States Treasury Secretary Janet Yellen on Friday said the biggest challenge facing their respective countries was inflation, caused by high prices of energy and food on account of the war in Europe.

Both said there was a need for increased cooperation between India and the US amid global headwinds caused by geopolitical uncertainties.

“I will have to say the global economic outlook at present is extremely challenging. In part because high inflation is a challenge that many advanced and developing countries face in common and central banks are first and foremost trying to