India urges focus on ‘most vulnerable’ at G20 meeting, avoids mention of war
Indian Prime Minister Narendra Modi urged global financial leaders to focus on the world’s “most vulnerable citizens” as he inaugurated a G20 meeting on Friday (24 February), the first anniversary of Russia’s invasion of Ukraine.
Modi said the COVID-19 pandemic and “rising geo-political tensions in different parts of the world” had led to unsustainable debt levels in several countries, disruptions to global supply chains and threats to food and energy security.
Participants at the meeting, however, are likely to focus on the war in Ukraine. The G20 bloc includes the wealthy G7 democracies, as well as Russia, China, India, Brazil and Saudi Arabia.
G7 chair Japan’s finance minister, Sunichi Suzuki, told reporters that the group would closely monitor the effectiveness of sanctions and “take further actions as needed”.
Global economy improves
The meeting comes amid signs that the global outlook has improved from the last G20 summit in October, when a number of economies were teetering on the brink of recession amid energy and food price spikes caused by the war.