G-20 to Continue Monitoring Geopolitical Tensions

Economy Politics

Jakarta, Feb. 19 (Jiji Press)--The Group of 20 major economies will continue monitoring the ongoing geopolitical tensions, their finance ministers and central bank chiefs have said as concerns mounted over Russia's possible invasion of Ukraine.

The G-20 economies will "continue to monitor major global risks, including from geopolitical tensions that are arising, and macroeconomic and financial vulnerabilities," the officials said in a joint statement Friday.

The officials also confirmed that central banks of the G-20 economies will act when necessary to ensure price stability amid rising inflationary pressures due to higher prices of crude oil and other commodities.

The statement was adopted at their two-day meeting in Jakarta through Friday. From Japan, Masato Kanda, vice finance minister for international affairs, attended the meeting on behalf of Finance Minister Shunichi Suzuki. Bank of Japan Governor Haruhiko Kuroda participated online.

The Jakarta meeting was the first G-20 ministerial gathering since the escalation of tensions over Ukraine.

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Jiji Press