Russia's finance minister attended the meeting virtually while his deputy attended in person. Ukraine's finance minister addressed the session virtually where he called for “more severe targeted sanctions”.
The G20 will set up a joint forum between finance and agriculture ministers to address food and fertilise supply issue. A similar forum has been set up for finance and health ministers for pandemic preparedness. “We are in a rudderless moment in the world economy with the G20 paralysed by Putin's war and the G7 unable to lead on global public goods,” said Kevin Gallagher, who heads the Global Development Policy Center at Boston University.
Western countries, concerned about the lack of transparency in China's lending, were pressuring Beijing to restructure debt contracts and transform its role to “one that to the country rather than to one of indebtedness and servitude,” said U.S. Ambassador to Japan Rahm Emanuel. But they were frustrated that Chinese officials did not attend the meetings in person, making sideline discussions impossible.
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