Calls Grow for Global Finance Architecture Reform Amid Debt Woes
- Group of 20 host country sees prospect for consensus statement
- Russia’s war interferes with progress on debt, other issues
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Indian officials are pushing Group of 20 finance chiefs to find common words to describe the world’s challenges, even as delegates from other countries are skeptical they’ll be able to agree on a communique as Russia’s war in Ukraine continues to rage.
The official meetings in Bengaluru on Friday and Saturday will also tackle big questions around whether, how, and who should be obligated to offer loan relief to certain low-income countries whose debt distress risks bigger problems for the world economy.