No agreement was reached after two days of discussion at the G20 Finances which ended on Saturday July 16, 2022 in Bali. The finance ministers of the major world economies meeting in Indonesia did not find a compromise, partly because of the war in Ukraine, the bone of contention of this summit. The big money-makers of the G20 therefore left without a press release after disagreements over Ukraine.
The big moneymakers of the G20 finally parted back to back, without even publishing a final press release. However, there were many subjects on the table: the fight against inflation, responses to the risk of a food crisis, debt restructuring for countries in difficulty… no agreement was reached.
Differences over the Russian-led war in Ukraine paralyzed discussions.
The Indonesian minister had to content himself with announcing progress in the debate on the establishment of a global tax reform. Indonesia also intends to organize a meeting soon with the Ministers of Agriculture and Finance on the subject of food insecurity.
Faced with this failure, IMF Executive Director Kristalina Georgieva called on the G20 countries to “ do everything in their power to bring inflation down “, recalling that the economic outlook has darkened.
A G20 which therefore appears to be well fractured before the meeting of its Heads of State scheduled for next November in Bali.
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