No joint communique as Ukraine casts shadow on G20 finance talks

G20 chair Indonesia says there was consensus on most of the document but two paragraphs would focus on members' differences regarding the impacts of the Ukraine crisis.

In place of a communique, there will be a statement by Indonesia, Finance Minister Sri Mulyani Indrawati says.
AFP

In place of a communique, there will be a statement by Indonesia, Finance Minister Sri Mulyani Indrawati says.

A two-day meeting of finance ministers from the Group of 20 major economies has ended in Indonesia without a joint communique after Russia's military campaign in Ukraine divided the global forum.

In place of a formal communique, there would be a 14-paragraph statement issued by Indonesia, the G20 chair's Finance Minister Sri Mulyani Indrawati said in closing remarks on Saturday.

She said there was consensus on most of the document but two paragraphs would focus on members' differences regarding the impacts of the Ukraine crisis and how to respond.

During talks on the Indonesian resort island Bali, the finance chiefs looked for solutions to food and energy crises, while accusing Russian technocrats of exacerbating the problems.

US Treasury Secretary Janet Yellen, Australian Treasurer Jim Chalmers and Canadian Finance Minister Chrystia Freeland blamed on Friday the assault on Ukraine for sending a shockwave through the global economy.

READ MORE:Western powers, Russia face off over Ukraine at G20 meeting

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'Internal divisions'

At the beginning of the second day of talks on Saturday, Indonesian central bank governor Perry Warjiyo called on leaders to concentrate on recovery in a world economy reeling from the Covid-19 pandemic.

The meeting took place after the International Monetary Fund slashed its global growth forecast, with another downgrade expected this month as US inflation stokes fears of a recession.

But the talks have been overshadowed by the Ukraine conflict after it roiled global markets, caused rising food prices and added to breakneck inflation. But Moscow blames retaliatory Western sanctions for blocking food shipments and rising energy prices.

Russian Finance Minister Anton Siluanov and Ukrainian Finance Minister Serhiy Marchenko participated virtually in the meeting.

Russian Deputy Finance Minister Timur Maksimov attended the talks in person a week after Foreign Minister Sergey Lavrov walked out of a G20 meeting over Western criticism of the Ukraine operation.

Maksimov was in the room as Western officials expressed their condemnation, according to a source present. Marchenko called for "more severe targeted sanctions" against Moscow.

Indonesia has refrained from uninviting Russia from G20 meetings, including a leaders' summit in November, even as Western nations repeated their calls for Moscow to be frozen out of the group.

Observers said the failure to agree on a joint communique would hinder coordinated efforts to solve rising inflation and food shortages.

"Internal divisions hinder the G20's ability to act decisively and leaves the world in uncharted waters," said Eric LeCompte, executive director of Jubilee USA Network, an NGO that lobbies for developing nation debt relief.

READ MORE: Ukraine crisis extends to G20 summit as Russia meets rivals in Indonesia

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