The meeting of financial leaders of the group of the 20 main economies of the world (G20) ended this Saturday (25) in Bangalore, India, without a consensus on the war in Ukraine. In the final document, released this morning, Russia and China oppose passages that condemn the conflict.
“We reiterate our national positions expressed in other fora, including the UN Security Council and the UN General Assembly,” reads the G20 letter. “A majority of members strongly condemned the war in Ukraine and emphasized that it is causing immense human suffering and adding to existing weaknesses in the global economy,” the statement added.
The group of seven major industrialized nations announced new sanctions against Russia on Friday, which, like the G20 talks, has sparked disagreements. “The use or threat of use of nuclear weapons is inadmissible. Peaceful conflict resolution, efforts to deal with crises, as well as diplomacy and dialogue are vital,” reads an excerpt from the G20 letter not signed by Russia and China. “Today’s era should not be one of war,” adds the note.
According to the G20, since the group’s last meeting in October 2022, global economic prospects have improved modestly. “However, global growth remains sluggish and downside risks to the outlook persist, including high inflation, a resurgence of the pandemic and tighter financing conditions”, argue the countries, reiterating the need for a better assessment of monetary, fiscal, financial and structural.
The G20 also said central bank independence was “crucial” to its credibility. “We reaffirm the importance of the rules-based, non-discriminatory, fair, open, inclusive, sustainable and transparent model”, states the document.
The group also highlighted the commitment to the United Nations agreement on climate change and the Paris Agreement. “We recall and reaffirm the commitment made by developed countries to the goal of mobilizing US$ 100 billion in climate finance per year by 2025 to meet the needs of developing countries”, says the G20.
*With information from Dow Jones Newswires
Source: CNN Brasil
Bruce Belcher is a seasoned author with over 5 years of experience in world news. He writes for online news websites and provides in-depth analysis on the world stock market. Bruce is known for his insightful perspectives and commitment to keeping the public informed.
