| 31 March 2023, Friday |

First G20 Finance Ministers end meeting with differences on Russia-Ukraine war

Without reaching a consensus on Ukraine war, the First G20 Finance Ministers meeting in India ended Saturday.

India had to release a chair summary and outcome document instead of a joint statement after the meeting in Bengaluru.

Most member countries strongly deplored the aggression by Russia against Ukraine and demanded a complete and unconditional withdrawal, according to the summary that said those conditions were not agreed to by Russia and China.

They also stressed that the war is causing immense human suffering and exacerbating existing fragilities in the global economy.

At a G20 summit held in Indonesia last year, there were similar differences regarding the war.

“India’s assumption of the presidency of the G20 summit has received huge support and said that weak countries are looking forward to solutions from this summit,” said Indian Finance Minister Nirmala Sitharam after the meeting.

A statement by the Indian Finance Ministry said the chair summary and outcome document is a significant achievement by the G20 under India’s presidency on subjects ranging from 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.

Member countries also offered condolences for the devastating earthquakes in Türkiye and Syria.

“We are deeply anguished by the tragic loss of life and destruction across south-eastern Turkiye from the devastating earthquakes on 6 February 2023, and stand in solidarity with the Turkish people. We also convey our deepest sympathy to the Syrian people, who were likewise affected by the catastrophic earthquakes,” said the summary and outcome document.

“We extend our condolences to the bereaved families. We appreciate the humanitarian assistance already being provided and call upon members and multilateral institutions to continue providing all possible assistance for recovery and reconstruction,” it said.

  • DW