First G20 Finance Ministers finish conference with differences on Russia-Ukraine conflict
Date
2/27/2023 2:28:20 AM
(MENAFN) G20 Finance Ministers meeting in India ended on a contentious note on Saturday due to differences over the Ukraine war. The meeting, which was held in Bengaluru, saw India releasing a chair summary and outcome document instead of a joint statement.
According to the summary, most member countries strongly condemned Russia's aggression against Ukraine and demanded a complete and unconditional withdrawal. However, those conditions were not agreed to by Russia and China, causing a difference of opinions. The member countries emphasized that the war is causing immense human suffering and exacerbating existing fragilities in the global economy.
This is not the first time such differences have arisen among the G20 member countries regarding the Ukraine war. At a G20 summit held in Indonesia last year, similar disagreements were witnessed. Nevertheless, Indian Finance Minister Nirmala Sitharam expressed confidence in India's assumption of the presidency of the G20 summit and said that weak countries are looking forward to solutions from this summit.
A statement by the Indian Finance Ministry stated that the chair summary and outcome document is a significant achievement by the G20 under India's presidency on a range of subjects, including the global debt crisis, Multilateral Development Bank reforms, climate finance, global approach to cryptos, digital public infrastructure, financial inclusion, financing cities of tomorrow, and taxation. The member countries also offered condolences for the devastating earthquakes in Turkey and Syria.
The outcome document expressed deep anguish for the tragic loss of life and destruction across southeastern Turkey due to the devastating earthquakes on 6 February 2023. The document also conveyed sympathy to the Syrian people, who were also affected by the catastrophic earthquakes. The member countries extended condolences to the bereaved families and appreciated the humanitarian assistance already being provided.
They also called upon members and multilateral institutions to continue providing all possible assistance for recovery and reconstruction.
Overall, while the G20 Finance Ministers meeting in India saw differences over the Ukraine war, the member countries managed to achieve consensus on several important issues affecting the global economy.
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