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G20 finance chiefs urged to focus on global recovery goals; formal communique unlikely
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Indonesia's Finance Minister Sri Mulyani Indrawati and US Treasury Secretary Janet Yellen shake hands as they hold a bilateral talks during the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, July 15, 2022. (Reuters/Made Nagi)
Indonesia on Saturday urged G20 finance leaders to stay focused on their goals for global economic recovery, but sources said the meeting in Bali would likely end without a formal communique as Russia's war in Ukraine continues to divide the group.
Indonesian Finance Minister Sri Mulyani Indrawati, who is hosting the two-day event, is expected to issue a chair's statement summarizing the events of the meeting instead, two sources familiar with the matter said.
"We do not expect a communique," one source said.
Senior Western officials, including US Treasury Secretary Janet Yellen and Canadian Finance Minister Chrystia Freeland, on Friday condemned the war and blasted Russian officials for the massive economic fallout caused by the war.
Ukraine finance minister Serhiy Marchenko, who addressed the meeting virtually, called for "more severe targeted sanctions" against Russia for its invasion of Ukraine. What the Kremlin calls a "special military operation" has overshadowed recent G20 meetings, including last week's gathering of foreign ministers.
Indonesian central bank governor Perry Warjiyo said on Saturday members had held fruitful discussions but that the G20 must deliver concrete results to support the global economy.
"It is important that we remain focused on what we have planned to achieve this year, as this will also send a positive message to the global community on the G20's role and efforts to support global recovery," Warjiyo said when he opened the second day of meetings.
