G20 = The Finance Ministers and Central Bank Governors Meeting of 20 major countries will be held in Washington, USA for two days from the 13th of Japan time.
We will discuss the effects of record-breaking inflation and monetary tightening on the global economy, and Japan will explain to other countries the market interventions it took last month to put the brakes on the yen's depreciation.
The G20 meeting will be attended by Finance Minister Suzuki and Bank of Japan Governor Kuroda from Japan.
On the first day of the meeting, which will begin at 7:30 a.m. Japan time, we will discuss the global economic situation, including soaring energy prices and food crises following the prolonged Russian invasion of Ukraine.
With record-breaking inflation and monetary tightening raising concerns about a global economic slowdown, we will exchange opinions on how countries are analyzing the current situation and trying to respond.
We will also discuss foreign exchange policies and responses to the debt problems of emerging countries as the yen depreciates rapidly against the dollar due to the impact of interest rate hikes in the United States.
In addition, Japan intends to gain the understanding of other countries by explaining that last month's market intervention by selling the dollar and buying the yen for the first time in 24 years was intended to put a brake on speculative and one-sided movements.
The G20 meeting has not been able to issue a joint statement recently due to conflicts of opinion between Russia and Western countries over the situation in Ukraine, and it is expected that it will be difficult to summarize this time as well.