MercoPress. South Atlantic News Agency

World recovery takes center stage as G20 Summit starts

“Being responsible means respecting international law,” Widodo said

The 17th G20 Summit started Tuesday in Bali, Indonesia, as dignitaries from the world's largest economies gathered under the motto “Recover Together, Recover Stronger.”

In the opening ceremony, Indonesian President Joko Widodo said he hoped his country could contribute to the global economic recovery while other issues such as digital transformation and food and energy security were to be discussed.

“Being responsible means respecting international law and the purposes and principles of the United Nations Charter consistently, and creating a win-win” situation, instead of a zero-sum one which benefits no one, the Indonesian leader stressed.

“We should not divide the world into parts,” Widodo said, calling on the world to act wisely, shoulder the responsibility and show their leadership.

The summit comes as the world is facing multiple challenges such as the fragile economic recovery, the prolonged COVID-19 pandemic, and inflation higher than usual amid tightening financial conditions. The International Monetary Fund (IMF) in October projected the global economy to grow by 3.2 % this year and 2.7 % in 2023, with a downward 0.2-percentage-point revision for 2023 from the July forecast.

Regarding the ongoing war in Ukraine, the G20 leaders were reportedly considering a draft resolution condemning the situation. According to Reuters, “there were other views and different assessments of the situation and sanctions,” against Russia in the 16-page draft declaration recognizing that “the G20 is not the forum to resolve security issues.”

However, the document is yet to be adopted by the summit and could be changed.

Established in 1999, the G20 is a central forum for international cooperation on financial and economic issues. It comprises 19 countries plus the European Union. The countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Türkiye, the United Kingdom, and the United States.