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The Latest Breaking News from G20

World Bank Promises ‘Concessionality’ in Debt Restructuring

The World Bank will "provide as much concessionality to the debt treatment" for distressed economies as possible, its president told a meeting with the International Monetary Fund, India, China, and other creditor nations on Saturday. The remarks come amid calls by China, the world's largest bilateral creditor, that global lenders…

Asharq Al-Awsat

G20 Finance Chiefs Differ on Debt, Russia-Ukraine War

Finance leaders of the world's biggest economies were entangled in differences on Saturday over the war in Ukraine and on resolving the debt burden of distressed developing nations, participants said. The meeting of finance ministers and central bank chiefs of the Group of 20 (G20), hosted by India, was likely…

Asharq Al-Awsat

Most G20 nations condemn Russia for war, China silent

Finance chiefs of the world's largest economies strongly condemned Moscow for its war on Ukraine on Saturday, with only China and Russia itself declining to sign a joint statement.

Reuters

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G20 fails to reach consensus on Russia-Ukraine war -sources

G20 finance chiefs have been unable to reach a consensus on describing the war in Ukraine and are likely to end a meeting in India on Saturday without a joint communique, delegates said.

Reuters

IMF flags debt restructuring hurdles, says banning crypto should be an option

There are some disagreements over restructuring debt for distressed economies, the chief of the International Monetary Fund said on Saturday on the sidelines of a G20 meeting, adding that banning private cryptocurrencies should be an option.

Reuters

US Announces Sweeping New Russia Sanctions 1 Year into War

The US announced a new round of sanctions on Russian firms, banks, manufacturers and people Friday, aiming them at entities that helped Russia evade sanctions earlier in the year-old war against Ukraine. Russia’s metals and mining sector is among those targeted in one of the US Treasury Department's "most significant…

Asharq Al-Awsat

France insists G20 condemn Russia's war in Ukraine 'in the strongest terms'

The anniversary of the start of the war in Ukraine is looming over meetings of world financial leaders at the Group of 20 leading economies in India. France said on Friday it will not sign a final statement that does not condemn the war “in the strongest terms”.

Radio France Internationale

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US announces sweeping new Russia sanctions 1 year into war

The U.S. has announced a new round of sanctions on Russian firms, banks, manufacturers and people

The Independent UK

Wealthy G7 nations gearing up for new volley of sanctions on Russia

The Group of Seven nations are preparing new, further-reaching sanctions on Russia a year after its invasion of Ukraine, targeting key economic sectors and other countries or organisations who help Moscow's war effort.

Reuters

Blinken heads to Asia, with China, Russia tensions soaring

Secretary of State Antony Blinken will travel to Central and South Asia next week for international talks that will put him in the same room as his Chinese and Russian counterparts

The Independent UK

Modi urges G20 finance leaders to focus on 'most vulnerable'

Indian Prime Minister Narendra Modi has urged financial policymakers of the Group of 20 leading economies to focus on the world's “most vulnerable people" in talks taking place in the technology hub of Bengaluru

The Independent UK

G20 tussles over Ukraine war as West steps up sanctions

Finance leaders of the world's top economies sought on Friday to bridge differences over how to deal with Russia following its invasion of Ukraine a year ago, as the West stepped up sanctions against Moscow.

Reuters

France won't sign G20 communique unless it strongly condemns Russia

France will not sign off on a G20 communique unless it contains the same denunciation of Russia's invasion of Ukraine as it did last year, its finance minister said on Friday on the sidelines of a G20 meeting in India.

Reuters

Indian PM Modi urges G20 to focus on unsustainable debt

The financial viability of many countries is being threatened by unsustainable debt, India's Prime Minister Narendra Modi said on Friday, as he called for the Group of 20 (G20) to focus on the world's most vulnerable citizens.

Reuters

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Reuters

G20 finance leaders to gauge toll on global economy on Ukraine war's anniversary

Global finance leaders will tally the economic damage from Russia's war in Ukraine on Friday as they meet on the conflict's first anniversary with some voicing concerns that more sanctions on Moscow would disrupt a modest improvement in growth.

Tribune News Service

G-7 countries condemn Russian aggression, increase aid to Ukraine

Group of Seven finance ministers once again condemned Russia’s war in Ukraine on the eve of its one-year mark and pledged to increase financial support for Ukraine.

The Conversation

$1 trillion in the shade – the annual profits multinational corporations shift to tax havens continues to climb and climb

About a decade ago, the world’s biggest economies agreed to crack down on multinational corporations’ abusive use of tax havens. This resulted in a 15-point action plan that aimed to curb practices that shielded a large chunk of corporate profits from tax authorities.

The Guardian - UK

Russia-Ukraine war at a glance: what we know on day 365 of the invasion

Russian forces step up attacks along eastern frontline; UN to vote on calling for unconditional withdrawal of troops; Zelenskiy says he would welcome meeting with China

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Reuters

Yellen, G7 urge more aid for Ukraine and adherence to Russia sanctions

Finance ministers from the United States and its G7 allies called for more financial support for Ukraine on Thursday and vowed to maintain tough sanctions on Russia on the eve of the first anniversary of Moscow's invasion.

The Independent UK

Yellen, in India for G20, urges faster fixes for debt crises

U.S. Treasury Secretary Janet Yellen has urged other leading economies to move faster in resolving debt crises that threaten a growing number of countries

Bangkok Post

India: Don’t mention the ‘war’

BENGALURU, India: Indian officials hosting the Group of 20 finance chiefs this week are seeking to avoid using the word “war” in any joint statement when referring to Russia’s attack on Ukraine, a person familiar with the matter said.

The Guardian - UK

UN expected to endorse demand for Russia to leave Ukraine

Global south countries including China, South Africa and India expected to abstain

AAP

Treasurer looks for inflation solution at G20 summit

Treasurer Jim Chalmers will meet G20 counterparts in India to discuss tackling global inflation and supply-chain challenges spurred by the war in Ukraine.

Reuters

Host India doesn't want G20 to discuss further Russia sanctions - sources

India does not want the G20 to discuss additional sanctions on Russia for its invasion of Ukraine during New Delhi's one-year presidency of the bloc, six senior Indian officials said on Wednesday, amid debate over how even to describe the conflict.

Reuters

India averse to discussing new Russia sanctions at G20

India does not want G20 nations to discuss additional sanctions on Russia for its invasion of Ukraine, government sources said on Wednesday, as it hosts a meeting of the bloc's finance chiefs at which the United States and allies were set to push for tougher action.

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