G20 finance leaders in Bali to tackle Ukraine, inflation

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Top financial officials from the Group of 20 leading rich and developing nations met on the Indonesian island of Bali on Friday seeking strategies to counter the economic fallout from the war in Ukraine, inflation and other global crises.

Indonesian Finance Minister Sri Mulyani Indrawati opened the two-day meeting by urging fellow finance ministers, central bank chiefs and other leaders to find ways to "build bridges, not walls." She said the consequences of failure, especially for less wealthy nations, would be "catastrophic.

Indonesia, as host, has tried to act as an "honest broker," she said, uniting a divided East and West within the G20, a schism that has sharpened since Russia invaded Ukraine in late February. The G20 managed to bridge differences in coping with the 2008 global financial crisis and the pandemic, said Indrawati.One key goal of U.S. Treasury Secretary Janet Yellen and some other Western financial officials is gaining agreement on setting a price cap on Russian oil that might help bring energy costs under control and alleviate the decades-high inflation seen in many countries while also limiting Moscow's access to revenues to fund its war effort.

She said she was "hopeful" that countries such as China and India that recently boosted imports of Russian crude oil, sold at steep discounts, would see it as being in their own self-interest to observe the price cap. At last week's meeting, U.S. Secretary of State Antony Blinken and Russian Foreign Minister Sergey Lavrov were present in the same room at the same time for the first time since the Ukraine war began but they pointedly ignored each other.

 

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Nice vacation in Bali, eh?

Who cares about Ukraine inflation?

Fist bump festival, oligarchs of the west unite !!

Why is it every other business in the world has embraced comm technology except poli. Poor babes must bear the onerous weight of traveling to a tropical paradise instead of virtual meetings from respective offices 🤔

So they're going to talk about how much more money they can send to Ukraine to be laundered for their deep pockets while we watch inflation bring us into a financial depression, destroying the lives of people that aren't even involved

That's because only the US and vassals is all you report, the real sovereign & free world is actually quite neutral or even supports Russia.

No better way than to fly all over the world at great expense to tax payers and the environment. 🤦‍♂️

Yes, high time they actually took some real action on both these issues instead of grandstanding on climate change, which has always changed and always will change!!

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