The G20 = Finance Ministers and Central Bank Governors' Meeting of 20 major countries held in Indonesia closed on the 16th.

We discussed how to deal with global inflation, but we could not make a joint statement as the conflict between Western countries and Russia over the situation in Ukraine deepened.

Finance Minister Suzuki and Bank of Japan Governor Kuroda attended the G20 Finance Ministers and Central Bank Governors' Meeting, which began on the 15th in Bali, Indonesia, and discussed themes such as dealing with global inflation. rice field.



The meeting closed on the 16th, and Minister Suzuki revealed to reporters that he could not make a joint statement. I understand that we did not reach a consensus joint statement. "



In the discussions so far, Japan and Western countries have severely criticized Russia for facing difficulties in the world economy due to Russia's invasion of Ukraine, while Russia has said that the cause of inflation is economic sanctions of Western countries. Insisted and the conflict was deepening.



The G20 Treasury Ministers' Meeting did not adopt a joint statement last April, and it continues to be unable to show a coordinated stance on the challenges of the global economy.

Treasury Minister Suzuki "Need to continue to put pressure on Russia"

Finance Minister Suzuki said, "The world economy is facing many difficulties due to the war of aggression in Russia, but many countries are working hard to deal with issues such as the food crisis. Japan and the international community are putting pressure on Russia. We need to continue to call, "he stressed that the international community needs to work together to continue to put pressure on Russia to regain the functionality of the G20.



In addition, given the accelerating depreciation of the yen in the foreign exchange market, "As monetary tightening progresses in Europe and the United States, it is necessary to pay attention to the impact on the financial market. We need to be very nervous and watch the market trends. "

Price increases accelerate further inflation concerns due to currency depreciation

With Russia's invasion of Ukraine accelerating the rise in energy and food prices around the world, record inflation is occurring.



Last month, consumer price growth reached a record high of 9.1% in the United States, the highest level in 40 and a half years, and 8.6% in the euro area.



It's not just developed countries.

Inflation is also in serious condition in emerging countries.

According to the summary of the OECD = Organization for Economic Co-operation and Development, the rate of increase in consumer prices in May was 73% in Turkey, 60% in Argentina, 11% in Brazil, etc., and dissatisfied with the sharp rise in prices in Argentina. Citizens who have carried out protests.



In some emerging economies, currency depreciation is progressing even more rapidly.



Among the G20 members, the Indian rupee has fallen by more than 7% against the dollar, the lowest ever, and the Korean won has fallen by more than 11% compared to the beginning. The won has fallen for the first time in about 13 years.



The depreciation of the currency has caused the prices of imported goods to rise, leading to further inflation, and there are concerns about the possibility of a large-scale outflow of funds in the future.