Ukraine war prevents formal communique at G20 finance talks

by | Jul 16, 2022 | World

A two-day meeting of finance ministers from the Group of 20 in Indonesia has ended without a joint communique after Russia’s invasion of Ukraine divided the global forum.During talks on the Indonesian resort island Bali, finance chiefs pledged to address global food insecurity, rising debt, and the energy crises but made few policy breakthroughs.
In place of a formal communique would be a 14-paragraph statement issued by Indonesia, the G20 chair’s Finance Minister Sri Mulyani Indrawati said in closing remarks on Saturday.
Indrawati said most topics were agreed by all members except for particular statements about the war in Ukraine. She described it as the “best result” the group could have achieved at this meeting.
Some used the forum as an opportunity to accuse Russian technocrats of exacerbating the problems.
US Treasury Secretary Janet Yellen, Australian Treasurer Jim Chalmers and Canadian Finance Minister Chrystia Freeland on Friday blamed the invasion of Ukraine for sending a shockwave through the global economy.
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No place at talks
At the beginning of the second day of talks, Indonesian central bank governor Perry Warjiyo called on ministers and global finance leaders to concentrate on recovery in a world economy reeling from the COVID-19 pandemic.
The meeting took place after the International Monetary Fund slashed its global growth forecast, with another downgrade expected this month as US inflation stokes fears of a recession.
But the talks have been overshadowed by the Ukraine war after it roiled global markets, caused rising food prices and added to breakneck inflation.
The Kremlin has called the war a “special military operation” and has blamed retaliatory West …

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