G20 talks overshadowed by Ukraine war as host Indonesia seeks consensus - BusinessWorld Online

The G20 Foreign Ministers’ Meeting in Bali, Indonesia, on July 8, 2022. — US State Department/Ron Przysucha

Finance leaders from the Group of 20 major economies are meeting on the resort island, as host Indonesia tries to find common ground in a group frayed by the Ukraine war and rising economic pressures from soaring inflation. “We are acutely aware that the cost of our failure to work together is more than we can afford. The humanitarian consequences for the world, and especially for many low income countries would be catastrophic,” she said.

Ms. Yellen said Russian finance officials at the meeting shared responsibility for the “horrific consequences” of the war.

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