The G20 = Finance Ministers and Central Bank Governors' Meeting of 20 major countries held in Morocco in North Africa came to a close on the evening of the 13th, Japan time. The Joint Statement, which had been postponed six times in a row due to the confrontation between countries over the invasion of Ukraine, was adopted.
At the G2 meeting held over two days in Marrakech, Morocco, the Joint Statement was adopted, which had been postponed six times in a row until the previous meeting due to the confrontation over the situation in Ukraine.
However, with regard to the situation in Ukraine, we reached an agreement that follows the Leaders' Declaration at the G20 Summit last month, without naming Russia, stating that "all countries must refrain from threatening or using force to acquire territory."
Regarding the global economy, while stating that it has "shown resilience to recent shocks" and shared the stance of working together as "risks remain," there was no mention of the situation in Israel and Palestine in the statement, and how the G6 can respond remains to be seen.
In addition, the G20 focused on the debt problems faced by developing countries and emerging countries, but it was once again shown that it is not easy to obtain consensus among countries with different positions.
Prior to the G20 meeting, Japan held talks with major creditors to assist Sri Lanka, which had fallen into de facto default, but failed to reach the target agreement in principle, and the statement urged progress by "seeking an agreement as soon as possible."
The G20 has recently been conspicuously out of step, and many people are questioning its raison d'être.
As new risks of escalating tensions between Israel and Palestine smolder, how will the G20 work together to recover the global economy?
We are once again faced with challenges.
Finance Minister Suzuki: "Continued to actively participate in discussions on debt issues"
After the G20=20 Major Finance Ministers and Central Bank Governors' Meeting concluded, Minister of Finance Suzuki held a press conference in G20.
Minister Suzuki expressed his stance of taking the lead in resolving the debt issue in developing countries and emerging countries, which was one of the main topics on the agenda, saying, "Japan have been actively working on the debt problem and leading discussions, and it is an issue that cannot be postponed, and I would like to continue to actively participate in discussions."
He also stated that he expressed "serious concern" about the increasingly tense situation in Israel and Palestine at the meeting.
Furthermore, with regard to the situation in the foreign exchange market, where the yen continues to depreciate, Minister Suzuki stated, "I explained that excessive fluctuations in the exchange rate are undesirable and that appropriate measures will be taken in some cases," and clarified that he explained his recognition of the Japan at the G<> meeting.