Yellen calls for 'strong set' of reforms at World Bank in call with German minister

U.S. Treasury Secretary Janet Yellen spoke to Germany's development minister, Svenja Schulze, on Monday and called for a "strong set" of reforms for the World Bank Group, the Treasury Department said in a statement. "She called for a strong set of initial evolution reforms for the World Bank Group at the upcoming Spring Meetings, with further reforms to be defined and implemented in the lead up to the October Annual Meetings. She also thanked Germany for its support of the U.S. candidate for World Bank President," the department added.

The United States has nominated Ajay Banga as the next head of the World Bank.