U.S. Treasury to urge moves to shield developing economies from war impacts

© Reuters. FILE PHOTO: U.S. Deputy Treasury Secretary Wally Adeyemo speaks during a joint news conference with EU Commissioner McGuinness (not pictured) in Brussels,nova foreign exchange trader information Belgium March 29, 2022. REUTERS/Johanna Geron/Pool

WASHINGTON (Reuters) - The U.S. Treasury this week will call on international policy makers to take steps to mitigate the impact from Russia's war in Ukraine on developing economies, which are paying high costs through increased food and energy prices, Deputy Treasury Secretary Wally Adeyemo said on Monday.

"We must not allow Russia’s invasion of Ukraine to further burden countries still struggling to deal with a global pandemic," Adeyemo said in remarks to a virtual event hosted by the Washington-based Peterson Institute of International Economics think tank.

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