No Reversal Of The Bali Agreement On The Ukraine Situation

Bengaluru
Nadia Maria Calvino Santamaria, Spain’s minister of economy, said G20 finance ministers should not go back on the language leaders agreed with at the Bali Summit about the Ukraine conflict lasting more than a year, On Saturday.
The proclamation from the most recent G20 Summit in Bali in November 2022 said that the majority of participants strongly denounced the war in Ukraine. Thoughts and perceptions of the situation and sanctions varied among certain member nations. Russia, a G20 member, refers to its invasion of Ukraine as a unique military operation.
About a year ago, Russia invaded Ukraine, and today, after their first meeting as G20 finance ministers and central bank governors (FMCBG), the heads of the world’s top 20 economies, or G20, are discussing how to respond in a single declaration that will be released later in the day.
There is widespread consensus that debt management and debt relief are crucial tools for giving financial support to the most disadvantaged nations. With a desire to ensure that the multilateral framework gives clarity and assurance on how these debt management processes are going to be performed, discussions on the communique are ongoing, and I believe we are making progress in that direction, she said. The sustainability of Zambia, Sri Lanka, and other nations depends on debt relief or restructuring. China’s request that the World Bank and other multilateral lenders shoulder some of the burdens of taking debt cutbacks is one of the sticking areas.