Ukraine torpedoes G20 policymakers' statement
Countries of the G20 grouping could not agree on a joint statement at the end of a meeting of their finance ministers and central bank governors, as the grinding war in Ukraine continued to polarize the bloc, which counts Russia, China, and the US as members. “China stated that the G20 FMCBG (Finance Ministers and Central Bank Governors) meeting is not the right forum to discuss geopolitical issues," said the third G20 FMCBG Outcome Document and Chair’s Summary, which was released late on Tuesday. Meanwhile, Russia dissociated itself from the status of the document.
“Most members strongly condemned the war in Ukraine and stressed that it is causing immense human suffering and exacerbating existing fragilities in the global economy, constraining growth, increasing inflation, disrupting supply chains, heightening energy and food insecurity, and elevating financial stability risks," the document said. “There were other views and different assessments of the situation and sanctions. Recognizing that the G20 is not the forum to resolve security issues, we acknowledge that security issues can have significant consequences for the global economy," it added.
India’s finance minister Nirmala Sitharaman said the chair statement was issued as there was still no consensus among members on a common language on the Russia-Ukraine war. “Our position since February has been that we have derived the statement from Bali, the leaders’ statement that was arrived at in the summit. The language given in the Bali leaders’ summit, we don’t have the mandate to change that.
Read more on livemint.com
