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Indonesia urges G-20 finance leaders to make progress in tackling global economic threats

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JAKARTA - Indonesia on Friday urged finance ministers and central bank chiefs from the Group of 20 largest economies meeting in Bali to step up efforts to address the current global economic challen

ges worsened by Russia's war in Ukraine.

Dr Sri Mulyani noted about 60 per cent of lower-income countries are in or near debt distress, with dozens unlikely to meet debt repayments over the next year. But Dr Sri Mulyani stressed Indonesia's intention to achieve a result that can be"communicated clearly to all outside stakeholders" as the group seeks to tackle the worsening global crisis.Janet Yellen, who is attending the meeting in person, condemned Russia's"brutal and unjust war"

Russian Deputy Finance Minister Timur Maksimov is in Bali for the meetings, while the finance minister of Ukraine, though not a member of the G-20, is expected to address one of the sessions virtually.

 

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