G20 expects financial scenario to stay troublesome in 2022 and probably 2023

“We cannot ignore the growing risk of economic recession,” said Sri Mulyani

O G20 expects the economic situation around the globe to remain difficult this year and “possibly” next, said on Thursday, 13, the finance minister of Indonesia, the country that chairs the 2022 meetings, Sri Mulyani Indrawati.

“We cannot ignore the growing risk of economic recession,” Sri Mulyani said in a press conference this afternoon. In her speech, the economist highlighted that, under the Indonesian Presidency, the meeting of finance ministers and central bankers of the G20 gave “some hope” that concrete results can be built.

Sri Mulyani noted that the scenario is one of high inflation and weak growth, in addition to risks posed by the war in Ukraine and the climate crisis. She reiterated the group’s commitment to financial sustainability and infrastructure investment.

Indonesia’s Central Bank President Perry Warjiyo said that the G20 continues to debate the development of cryptocurrency markets and explore digital assets that facilitate cross-border payments.

According to the central banker, the group remains committed to dealing with high inflation around the world and is working to calibrate the pace of monetary tightening.

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