Andreas Schaal, OECD’s G20 Sherpa noted that global debt resolution in emerging markets (EMs) is already underway. However, he also stressed the need to find a joint solution to the Russia-Ukraine war, which was a key issue.
Despite a disagreement on Russia's war on Ukraine, the G20 Foreign Ministers Meeting at New Delhi on Thursday saw strong sentiments raised on the need for multilateralism, resilient food and energy supply chains, and unequivocal condemnation of terrorism.
Speaking to CNBC-TV18, Andreas Schaal, OECD’s G20 Sherpa said India’s G20 presidency has highlighted very well all the priorities — food & energy security, inflation, high indebtedness etc.
Schaal noted that global debt resolution in emerging markets (EMs) is already underway. However, he also stressed the need to find a joint solution to the Russia-Ukraine war, which was a key issue.
“The finance ministers made big progress on global debt last week. A global debt initiative is already underway since one year and there was further progress made under India’s Presidency. The problem still continues to be there but we have made big inroads,” Schaal said.
Meanwhile, Pankaj Khimji, Oman's G20 Sherpa, emphasised the importance of focusing on hydrogen, solar, and wind energy, as well as food & energy security. He expressed concern about Oman's food security and the need for unified talks and action on these issues.
Khimji also highlighted that the G20 should not be about politics and that the Russia-Ukraine war needs to be settled on a different platform.
Also Read: G20 Foreign Ministers' Meet | As leading economies of the world, we also have a responsibility towards those who are not— PM Modi
(Edited by : Pradeep John)
First Published: Mar 2, 2023 9:53 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Recommended ArticlesView All
Midair Musings | There is this paradox of soaring airfares and sky-high demand currently in India
Jun 8, 2023 IST6 Min(s) Read
World Brain Tumour Day | Low survival rate, high recurrence and poor patient prognosis — here's why this cancer remains a big challenge
Jun 8, 2023 IST8 Min(s) Read
Board wants me to shift gears, future focus will be on outcome & performance: Hero MotoCorp's Niranjan Gupta
Jun 7, 2023 IST3 Min(s) Read
PGA Tour, LIV Golf & DP World Tour merger: Has Saudi Arabia ‘bought’ professional golf?
Jun 7, 2023 IST5 Min(s) Read