Sunday, May 22, 2022

G20 finance ministers to forego joint statement due to Russia tension

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The finance ministers of the G20 states have refused to release a joint statement at their upcoming meeting in Washington due to tension over the war in Ukraine.

German government sources on condition of anonymity on Tuesday said Russia, part of the group of 20 economically powerful nations, was believed to be sending representatives to the U.S. capital for Wednesday’s meeting.

Among other things, the impact of Russia’s attack on Ukraine on the global economy was expected to be high on the agenda.

It was safe to assume that most states would strongly condemn the war, the source in Berlin said.

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Previously, there had been discussion about whether to attend the meeting at all if Russia was represented, they added.

There was lengthy debate about this, including in the G7, of which Russia was not a member, the government source said.

In the end, however, it was decided not to let Russia directly or indirectly sabotage important multilateral cooperation, the source added.

Tackling high inflation, developing the global economy, fighting the coronavirus pandemic and preventing a new hunger crisis in poorer countries are also to be discussed on Wednesday.

The meeting was to bring together finance ministers, central bankers, officials, and financial and development experts from around the world.

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