The summary and outcome documents were released after the meeting of G-20 finance ministers and central bank governors concluded. A year after Russia’s invasion of Ukraine, leaders of countries such as the US and France wanted to propose condemning Russia for the military action, but China and Russia were against using the G20 forum to discuss the political issue.
Russia and China said that the meeting was being held on financial and economic issues, so there was no point in mentioning the Ukraine issue. However, a summary released after the meeting stated that the G20 members reiterated their national positions on the Ukraine war. Most members expressed condemnation of the war in Ukraine, saying it was causing human suffering and exacerbating existing weaknesses in the global economy. The two-day meeting discussed a wide range of issues including debt relief to poor countries, digital currencies and payments, World Bank, climate change. The meeting specifically discussed ‘debt-related vulnerabilities’ in low- and middle-income countries.
The global economic outlook has improved slightly since the last meeting in October 2022. However, many emerging markets and developing economies have risks related to the nature of debt vulnerabilities. It also mentions continued comprehensive policy cooperation and continued progress towards the 2030 Agenda for Sustainable Development.
