Division over Russia’s war in Ukraine meant a meeting of Group of 20 finance chiefs ended without the usual communique, though there was incremental progress on issues such as food and energy security.
While countries agreed on most of a briefer chair summary released by host nation Indonesia, which included the need to respond to the food and fuel crisis, disagreement over the root cause prevented them for a second time this year from issuing a communique. The war in Ukraine is “an issue they cannot reconcile yet,” said Finance Minister Sri Mulyani Indrawati.
Focus turned instead at the meetings in Bali, Indonesia, to avenues for supporting the most vulnerable — including through bolstering food security and raising alarm over sovereign default risks. The G-20 is considering setting up a fund similar to one for the global health crisis, which received additional pledges to reach $1.28 billion in size. The gathering also saw progress in discussions on the debt treatment for Chad and Ethiopia.
