EXPLAINER Russias war, climate among vexing issues at G20

News Summary

  • Some details about the group and this week’s summit:WHAT IS THE G-20?The forum of 19 of the largest national economies and the European Union was formed to encourage cooperation and coordination on global issues such financial stability, climate change and sustainable economic growth.
  • But tensions over Russia’s invasion of Ukraine have complicated host Indonesia’s efforts to build consensus to tackle climate change, improve food security, build stronger health systems and navigate through the perilous task of taming inflation while trying to steer clear of recessions.
  • The events also are a chance to showcase tropical, scenic Bali as a tourism destination.The G-20′s original mission was to tackle economic challenges but that has expanded encompass many other issues, from terrorism and money laundering to health initiatives and climate change.
  • In talks ahead of the leaders meetings, health and finance ministers agreed on setting up a fund to help finance pandemic preparedness and response, Indonesian officials announced late Saturday.
  • WHAT’S NEXT?The Bali summit comes on the heels of a United Nations climate conference in Egypt and a summit of the Association of Southeast Asian Nations in Cambodia that Biden and some other G-20 leaders attended.
  • That has pushed inflation to decades high levels in many countries, complicating efforts to nurse along recoveries from the pandemic and raising the risks of recession for many economies.
By ELAINE KURTENBACH Associated PressNUSA DUA, Indonesia (AP) President Joe Biden and other leaders of the Group of 20 top economies will have the chance to discuss the worlds most pressing probl [+4668 chars]