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G-20 finance leaders to warn of rising inflation, geopolitical risks

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JAKARTA/TOKYO - Finance leaders from the Group of 20 major economies will likely warn on Friday that rising inflation and geopolitical risks could threaten a fragile global recovery, as the crisis

in Ukraine and the Covid-19 pandemic's fallout cloud the outlook.overshadowed a meeting of G-20 finance ministers and central bank governors, which was expected to focus heavily on how to whittle down crisis-mode stimulus policies without disrupting a post-pandemic recovery.

Inflation is currently elevated in many countries due to supply disruptions, a mismatch in supply and demand, as well as rising commodity and energy costs, the draft communique said. The draft statement contained no direct reference to the crisis on the Ukraine-Russia border, saying only that the G-20 will continue to monitor risks,"including those arising from geopolitical tensions".

The G-20 finance leaders will issue the final communique after their meeting ends on Friday. The talks were held both virtually and in Jakarta.

 

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