Canadian Finance Minister: G20 cannot work if Russia stays at the table

WASHINGTON DC, – The main economic group of the G20 cannot function effectively as long as Russia remains a member.

Reported Reuterssaid the Canadian Minister of Finance on Friday (22/4/2022) during a meeting of the International Monetary Fund and the World Bank in Washington DC, United States.

Disputes over Russia’s participation in the meeting have been exposed so far this week.

Read also: G20: Sri Mulyani alludes to China on its role as dominant creditor in the world

Officials from the United States, Canada, the United Kingdom and other Western countries went on strike three days in a row whenever Russian officials spoke.

G20 finance ministers and central bank governors, who met in Washington on Wednesday (4/20/2022), failed to agree on a traditional statement outlining economic policy goals.

This is because Russia has blocked harsh language condemning its invasion of Ukraine.

The IMF Governing Board and the Development Committee of the World Bank and the IMF also did not issue a joint statement.

“The G20 cannot function effectively with Russia at the table,” Chrystia Freeland, Canada’s Finance Minister, said during a press conference with Ukrainian Finance Minister Serhiy Marchenko in Washington.

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“Russia has no place on the table of countries that have come together to safeguard global economic prosperity,” Freeland said.

He added that Russia had violated old international rules with its invasion of southern Ukraine.

You can’t be a hunter and a ranger at the same time,” he added.

The tensions have called into question the effectiveness of the G20, which includes Western countries accusing Moscow of war crimes in Ukraine.

Also read: After G20 Forum, walkout action colored IMF meeting as Russian delegation speaks out

So far, China, India, India and South Africa have not signed on to Western sanctions imposed on Russia over the conflict.

This year’s G20 host country, Indonesia, remains optimistic that progress can be made on a number of issues despite the tensions.

Indonesian Finance Minister Sri Mulyani Indrawati said: Reuters in an interview.

“Even with the departure, we all agree on the substance of the work that needs to be done,” he said.

Also Read: Russian Media: Sri Mulyani Says All Leaders of G20 Countries Including Putin Invited to Indonesian Summit

Sri Mulyani admitted she was more focused on the “grassroots” technical work that underpins the issue, such as strengthening the G20 joint debt framework for poor countries.

Things like creating new funding mechanisms for future pandemic needs are also front and center rather than issuing releases at the current stage.

With another G20 financial meeting scheduled for July and October and a leaders’ summit in November, Sri Mulyani said there was plenty of time to continue progress.

Also read: The problem with the boycott at the G20 meeting is Russia’s opinion

“If there was no forum at all, then the world would be in a much worse situation, with each country setting policies without regard for the others,” he added.

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Robert Butler

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