Global debt hangs over G20 finance ministers summitSENSITIVE TOPIC: Although Yellen and Suzuki reiterated their support for Kyiv, some were concerned that discussing Russia’s invasion of Ukraine would derail talksAFP, GANDHINAGAR, IndiaG20 finance ministers and central bank chiefs yesterday opened talks on debt restructuring deals, multilateral bank reform and finance to tackle climate change, as they aim to bolster a sagging global economy. US Secretary of the Treasury Janet Yellen, left, and Indian Minister of Finance Nirmala Sitharaman issue a joint statement ahead of the G20 finance ministers meeting in Gandhinagar, India, yesterday. Photo: AFPTalks would also focus on “critical global issues such as strengthening the multilateral development banks and taking coordinated climate action,” Sitharaman added. A top official from G20 chair India said there had been a “not so encouraging response” from Beijing on shared debt understanding. “In the Global North, climate change means emissions reductions,” World Bank president Ajay Banga wrote in an op-ed ahead of the meeting.

Source: Taipei Times July 17, 2023 21:17 UTC