(3 minutes read)
The meetings of financial chiefs of the Group of 20 leading economies held between Feb. 24-25 in Bengaluru, India touched upon issues including digital currencies and payments, reform of institutions like the World Bank, climate change, and financial inclusion
The meetings of financial chiefs of the Group of 20 leading economies held between Feb. 24-25 in Bengaluru, India touched upon issues including digital currencies and payments, reform of institutions like the World Bank, climate change, and financial inclusion. However, tensions over the Russia-Ukraine conflict flared, eluding a consensus among the participants. The joint statement was objected to by Russia and China. Therefore, the chairperson of the meetings issued a summary and an outcome document instead of a communiqué.
South Africa’s stance on the conflict has been neutral. That position drew criticism from Western partners of South Africa. Despite that, South Africa launched military drills with Russia and China on Feb. 17. South Africa maintained that the naval exercises were planned a long time ago even before the war and it could not be avoided.
Read Also:
https://trendsnafrica.com/russia-china-and-south-africa-to-hold-joint-military-exercise/
https://trendsnafrica.com/yellen-calls-for-joint-steps-with-south-africa-to-end-money-laundering/
The G20 group includes the US, Brazil, Russia, and countries like India and South Africa that enjoy trade ties and historic bonds with Moscow. Of the 32 countries that kept to a neutral stance and abstained from voting on the UN resolution included 22 African nations, apart from India and China.
