Joburg - American Secretary of the Treasury Janet Yellen says the US strongly values its relationship with South Africa.
Yellen made these remarks during a bilateral meeting with South Africa’s Finance Minister, Enoch Godongwana.
Yellen will be in the country until January 28.
“Minister Godongwana, I very much look forward to reconnecting with you today. We have spoken several times over the last year, including last October in Washington. I’m glad to be able to continue our conversation here in South Africa,” she said.
She said Godongwana and herself would discuss how multilateral development banks could better address emerging global challenges and how that could benefit African countries.
“And we will discuss South Africa’s role in developing the Pandemic Fund and its continued involvement.
“I am also eager to hear the minister’s views on the Common Framework for Debt Treatment, given South Africa’s membership in the G20 and its role as co-chair of Zambia’s creditor committee,” added Yellen.
Energy is another major talking point that will be discussed.
She highlighted that South Africa was the first country with a Just Energy Transition Partnership, to which the US was proud to commit as a partner.
“This partnership represents South Africa’s bold first step toward expanding electricity access and reliability and creating a low-carbon and climate-resilient economy, a move that I believe will alleviate the deep fiscal strain the energy sector is putting on South Africa’s economy and support strong economic growth,” she said.
Yellen said the partnership would also invest in the jobs of growing industries so that the transition is just and does not leave anyone behind.
Godongwana said it was a privilege to welcome Yellen and her delegation to South Africa.
“The last time that a US secretary of the treasury visited South Africa was in 2014, eight years ago! This is, therefore, indeed a momentous occasion.
“There has been constructive co-operation between our two countries through the G20 and the Financial Stability Board (FSB), including on making appropriate regulatory standards for the financial sector," said Godongwana.
He said there had been broader co-operation between the US and the African region.
“I am pleased that Secretary Yellen is one of the leading US government leaders that is advancing the US administration’s initiative to bolster trade, economic and financial relations with South Africa and the African continent.
The US ranks among South Africa’s top trading partners, with a diverse flow of goods, services and know-how between the two states serving as a critical launchpad for the development of both economies. My hope is that this may continue,“ added Godongwana.
The Star