Don’t mention the war – G20 tensions flare over Russia’s invasion of Ukraine
South China Morning PostFeb 24, 2023
In a video message at the start of the two-day top-level financial meeting of Group of 20 (G20) nations on Friday, India's Prime Minister Narendra Modi asked the delegates to focus on the world's most vulnerable citizens and the soaring debt of developing nations.
Finance ministers, central bank governors, and other leaders are attending the summit being held outside the Indian tech hub of Bengaluru. Several issues are due to be discussed in the meetings but a joint statement is uncertain as the Ukraine war overshadows the talks.
As the G20 convenes it also marks one year of Russia's war against Ukraine. Modi wants to address the financial concerns of struggling nations while avoiding speaking about the war. It would be unacceptable for the attending nations not to speak about the global fallout of Russia's misplaced aggression. The two issues are not mutually exclusive as one is the cause of the other. India must decide between being allies with Moscow and resolving this unnecessary and egregious war if it wants to see improvement in global financial growth.
While the West has been absorbed by the Ukraine crisis, scores of countries from the Global South — many of them neutral and not even close to the war zone — have been suffering from declines in economic activity, soaring inflation, and indebtedness, among other challenges aggravated by this conflict. The G20 must be focused on macroeconomic and financial stability — not letting geopolitical tensions spill over.