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During the talks on the Indonesian resort island of Bali, finance chiefs pledged to tackle global food insecurity, rising debt and energy crises, but made little political progress.
A two-day meeting of Group of 20 (G20) finance ministers and central banks presidents in Indonesia ended without a joint communique after Russia's special military operation in Ukraine divided the global forum.
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During the talks on the Indonesian resort island of Bali, finance chiefs pledged to tackle global food insecurity, rising debt and energy crises, but made little political progress.
"I think we all agree that this G20 meeting has taken place under very difficult circumstances because of geopolitical tension," Indonesian Finance Minister Sri Mulyani Indrawati stressed at a press conference on the Indonesian island of Bali, where the meeting took place.
Instead of a formal communiqué, there would be a 14-paragraph statement issued by Indonesia, said the finance minister, whose country holds the G20 pre-temporary presidency.
The G20 failed to agree on Russia's war in Ukraine and its repercussions for global inflation, casting uncertainty over the forum's prospects for future cooperation. @NanaShibata_en @NikkeiAsia https://t.co/Ex09JKEgRj
— Michael Peel (@Mikepeeljourno) July 17, 2022
Indrawati said most of the issues were agreed by all members except for particular statements on the conflict in Ukraine.
She described it as the "best outcome" the group could have achieved at this meeting.
U.S. Treasury Secretary Janet Yellen, Australian Treasurer Jim Chalmers and Canadian Finance Minister Chrystia Freeland blamed Russia for sending a shockwave through the global economy.
Russian Finance Minister Anton Siluanov and Ukrainian Finance Minister Serhiy Marchenko participated virtually in the meeting.
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