A Canadian government photograph showing Canadian Finance Minister Chrystia Freeland (center) posing with colleagues and central bankers who left the G20 plenary to protest Russia’s presence at the forum, April 20, 2022 in Washington (government) from Canada/handout)
G20 finance ministers and central bankers, who gathered on the sidelines of IMF and World Bank meetings on Wednesday, left the plenary or turned off their screens to protest Russia’s presence.
The Indonesian presidency had been pressured to exclude Moscow from the G20 in response to the invasion of Ukraine. However, she refused to do so in the name of impartiality.
“War is incompatible with cooperation,” French Economy Minister Bruno Le Maire said in the opening remarks, urging Russia “to refrain from participating in G20 meetings”.
His Russian counterpart Anton Silouanov replied: “The G20 is and remains above all an economic forum”.
This body brings together the twenty major world economies, including the United States, Canada, China, India, Brazil, Japan, France and Germany.
Failing to rule out Moscow, ministers including US Treasury Secretary Janet Yellen decided to boycott the sessions where Russian officials were supposed to speak.
“This week’s meetings in Washington are designed to support the global economy and Russia’s illegal invasion of Ukraine poses a serious threat to the global economy,” Canadian Deputy Prime Minister Chrystia Freeland tweeted.
“Russia is not allowed to attend or participate in these meetings,” she added, and she also posted a photo showing Western officials “leaving the G20 plenary when Russia tried to intervene.”
“Many finance ministers and central bankers, including (…) (Janet) Yellen, walked out when Russia started talking,” a source close to the US delegation confirmed earlier. “Other ministers and governors, who were virtual, turned off their cameras.”
It is also pointed out in London that the British representatives have left the room.
This incident took place “without disrupting the discussions”, Indonesia’s finance minister Sri Mulyani Indrawati assured at a press conference.
The G7 ministers also obtained the participation of Ukrainian Finance Minister Serguiy Marchenko in this meeting, although Ukraine is not a member of the G20.
– Stand for Moscow? †
German Finance Minister Christian Lindner on March 31, 2022 in Berlin (POOL / Tobias SCHWARZ)
Conversely, German Finance Minister Christian Lindner defended Berlin’s desire to participate in all sessions, including in the presence of Russian officials.
“We will not provide a platform for Russia to spread its propaganda and lies,” he told reporters in Washington, where the G20 meeting is being held with some of his colleagues, while others have opted for virtual mode.
According to a source close to the German delegation, Mr Lindner has also “vigorously challenged” the positions of Russian officials.
This is the first time the G20’s major backers have met since Russia’s invasion of Ukraine on February 24.
They had split up in Jakarta, Indonesia, on Feb. 18, promising to coordinate for a “stronger” global recovery. On the contrary, the Russian offensive has darkened the outlook, exacerbated inflation and sparked a food crisis.
The Russian minister has blamed the sanctions. “It is clear that the sanctions are artificially limiting the market supply, causing an imbalance and a sharp rise in prices,” he said.
The International Monetary Fund’s general manager, Kristalina Georgieva, urged countries to continue their cooperation despite the tensions.
“Members underlined the crucial role of the G20 as the main forum for economic cooperation,” said the Indonesian minister.
Countries have a lot to do as global growth is under threat: the IMF expects just 3.6% this year and expects a stronger slowdown as war and sanctions worsen.
Before the G20, the IMF and the World Bank had called for the essence of these meetings to be remembered: ensuring food security and implementing the G20’s “common framework” to restructure poor countries’ debt.
“There have been many discussions about the transparency” of the debt, Sri Mulyani Indrawati said. “Some Member States have called for a more credible, predictable and timely mechanism.”
But the implementation of this framework has faltered due to the weak participation of China, the main creditor country of poor countries.
