G20 meet: War in Ukraine adversely impacted global economy
Recognizing that the G20 is not the forum to resolve security issues, members acknowledged that security issues can have significant consequences for the global economy.
NEW DELHI: The war in Ukraine has further adversely impacted the global economy according to the Outcome document and chair summary after the G20 Development Ministers meeting in Varanasi.
"There was a discussion on the issue of the war in Ukraine. We reiterated our national positions as expressed in other fora, including the UN Security Council and the UN General Assembly, which, in Resolution No. ES-11/1 dated 2 March 2022, as adopted by majority vote (141 votes for, 5 against, 35 abstentions, 12 absent) deplores in the strongest terms the aggression by the Russian Federation against Ukraine and demands its complete and unconditional withdrawal from the territory of Ukraine. Most members strongly condemned the war in Ukraine and stressed it is causing immense human suffering and exacerbating existing fragilities in the global economy – constraining growth, increasing inflation, disrupting supply chains, heightening energy and food insecurity, and elevating financial stability risks,’’ the Outcome document stated.
There were other views and different assessments of the situation and sanctions. Recognizing that the G20 is not the forum to resolve security issues, members acknowledged that security issues can have significant consequences for the global economy.
Meanwhile, it was also reiterated that it was essential to uphold international law and the multilateral system that safeguards peace and stability. This includes defending all the Purposes and Principles enshrined in the Charter of the United Nations and adhering to international humanitarian law, including the protection of civilians and infrastructure in armed conflicts. The use or threat of use of nuclear weapons is inadmissible.
The peaceful resolution of conflicts, efforts to address crises, as well as diplomacy and dialogue, are vital. Today's era must not be of war.
The Development Ministers endorsed the work done by the Development Working Group and unanimously adopted the following outcome documents:
• G20 2023 Action Plan on Accelerating Progress on the SDGs
• High-level Principles on Lifestyles for Sustainable Development
The outcome documents adopted on Monday would be submitted for consideration by the Leaders to be annexed to the G20 Summit Declaration to be held in New Delhi on 9-10 September 2023.
The development ministers expressed their appreciation to India for its leadership of the G20 in 2023 and for stewarding and enhancing our development agenda. In this regard, we recognize and thank the contributions of all the participating international organizations - ADB, ILO, ITU, OECD, UNCTAD, UNDP, UNEP, UNFCCC, UNIDO, UNSG-OSET and WBG.
Members welcomed Brazil’s G20 Presidency in 2024 and the Republic of South Africa’s G20 Presidency in 2025 to take forward the collective agenda of the G20 DWG.