G20 Finance Summit in Bali ends without any agreement on ongoing crises
Indonesian Finance Minister Sri Mulyani Indrawati during a news conference on the occasion of the G20 finance ministers meeting in Bali, Indonesia, July 16, 2022. REUTERS - POOL
Text by: RFI Follow
1 min
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.
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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 implementation 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, the executive director of the IMF, Kristalina Georgieva, called on the G20 countries to "
do everything in their power to bring down inflation
", 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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To read also:
a G20 Finance summit in Bali under the sign of discord
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