G20 = The meeting of finance ministers and central bank governors of 20 major countries will start in Indonesia on the 15th.
The focus will be on being able to show a coordinated stance on how to respond to global inflation accelerated by Russia's invasion of Ukraine.
The G20 Finance Ministers and Central Bank Governors' Meeting will be held in Bali, Indonesia from the 15th to two days, with Finance Minister Suzuki and BOJ Governor Kuroda attending face-to-face from Japan.
One of the main agenda items is responding to the accelerating global inflation.
The situation is complicated by the disruption of the supply network = supply chain and logistics due to the spread of the new corona infection, and the further rise in energy and food prices due to Russia's invasion of Ukraine.
In the United States, the consumer price index was announced on the 13th, rising 9.1% last month, the highest level in about 40 and a half years.
Central banks in each country are accelerating rate hikes to curb inflation, but prices have not subsided, civic life is being squeezed, and interest rate hikes such as the United States have led to currency depreciation in emerging countries and capital outflows. We are in a state of concern.
Russia criticizes Russia's military invasion for the cause of inflation, but Russia is arguing that it is due to sanctions by Western countries.
With the participation of China and India, which are closely related to Russia, the focus will be on being able to show a cooperative stance as a G20 in dealing with inflation.
Indonesian Treasury Minister “Inflation Complex Factors Background”
Prior to the opening of the G20 Finance Ministers and Central Bank Governors' Meeting, Indonesian Finance Minister Sri Muryani responded to an independent interview with NHK.
"The impact of the new coronavirus has already caused turmoil in food and other supplies, and the war has caused further turmoil," the finance minister said of the accelerating inflation in the world. He pointed out that the background is a complex factor of military invasion.
Regarding the fact that the United States is raising interest rates to curb domestic inflation, "The US dollar is the most used currency in the world, so it will affect the world economy. Many emerging countries and low-income countries It is becoming a risk for the United States and must be dealt with. "
He also expressed a sense of crisis about the current situation of deepening conflict between Western countries and Russia, saying, "No matter what political claims there are, there are humanitarian concerns that must be dealt with." So, I would like to discuss how to effectively present a solution. "