G20 finance chiefs end their meeting in India

A meeting of finance chiefs and central bank governors of the Group of 20 leading economies ended on Tuesday in India without a consensus because of differences between countries over the war in Ukraine.Following two days of talks, there was no final communique. Instead, India, as the host nation, was forced to issue the G20 Chair’s summary and an outcome document.Speaking to reporters after the meeting concluded in Gandhinagar, a city in the western state of Gujarat, India’s finance minister said the reason for the chair statement was “because we still don’t have a common language on the Russia Ukraine war”.

Nirmala Sitharaman said that the language describing the war had been drawn directly from last year’s G20 leaders summit declaration in Indonesia. “We don’t have the mandate to change that,” she said, adding that this was something the leaders would have to decide when they gather in the capital, New Delhi, for the main summit in September.According to the chair summary, China and Russia objected to paragraphs referring to the war which said it was causing “immense human suffering” and “exacerbating existing fragilities in the global economy”. The wording was taken from the previous declaration in Indonesia, where leaders had strongly condemned the war.