March 21, 2023

Great Indian Mutiny

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G20 fails to reach agreement on Ukraine

G20 finance ministers failed on Saturday to reach an agreement on the war in Ukraine and its disruptive impact on the global economy, although a majority condemned the Russian invasion at the end of a meeting marking the group’s first anniversary in India. Conflict.

As agreed in Bali (Indonesia) last year, a majority of members “firmly condemned the war in Ukraine” and criticized its impact on the global economy, according to a summary of the G20 Center’s meetings of finance chiefs and governors. Banks in Bangalore, South India.

Since last Friday, in India’s first high-level meeting since assuming the G20 presidency, the group’s finance chiefs have been meeting in Bengaluru to try to find a common position on the invasion of Ukraine and debt control.

Besides Beijing and Moscow, in two of the four countries where finance ministers or central bank governors did not attend the session in person, other groups blamed the conflict for growth in inflation, disrupted supply chains and food and energy insecurity. .

The abstract comes between the tension seen within the group between yesterday and today, collective but not fully subscribed to by all members.

Nadia Calvino, the deputy head of the Spanish government, confirmed during the talks that the dialogue between finance chiefs was “less constructive”.

French Finance Minister Bruno Le Maire yesterday called for firm condemnation of Russia’s aggression in Ukraine, warning that Paris would oppose any joint statement that would otherwise dilute the rejection expressed by the group in Bali.

India’s position of hosting the G20 tournament was seen as the biggest obstacle to the unanimous adoption of a declaration.

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Avoiding the word “war” or referring to Russia, Indian Prime Minister Narendra Modi said today that “since developments in Ukraine have begun, India insists on resolving this dispute through dialogue and diplomacy”.

The group used the Bangalore meeting to reaffirm its support for Ukraine with $39,000 million in financial aid by 2023 and to increase pressure on the G20 to take a clear stance on the global situation.