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G20 nations adopt 'chair summary' after Russia, China opposition

India, as G20 President, was aiming for a communique, which is a stronger statement of intent

India's G20 presidency
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The summary stated that the G20 nations said that they will prioritise temporary and targeted fiscal support to vulnerable groups while maintaining medium-term fiscal sustainability

Arup Roychoudhury Bengaluru
After days of grueling negotiations, the G20 nations adopted a ‘chair summary’ which recognised a slightly improved global macroeconomic outlook but acknowledged that global growth remains slow and there are headwinds.

“Since we last met in October 2022, the global economic outlook has modestly improved. However, global growth remains slow, and downside risks to the outlook persist, including elevated inflation, a resurgence of the pandemic and tighter financing conditions that could worsen debt vulnerabilities in many Emerging Market and Developing Economies,” said the chair summary at the end of the G20 meeting of Finance Ministers and Central Bank Governors (FMCBG) in

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First Published: Feb 25 2023 | 9:56 PM IST

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