Finance leaders of the world's biggest economies were entangled in differences on Saturday over the war in Ukraine and on resolving the debt burden of distressed developing nations, participants said.
The meeting of finance ministers and central bank chiefs of the Group of 20, hosted by India, was set to end later in the day without a joint communique because there was no consensus on how to describe the conflict in Ukraine, delegates said.
The US and its allies in the Group of Seven industrial powers have been adamant in demanding the communique squarely condemn Russia for the invasion of its neighbour, which has been opposed by the Russian and Chinese delegations, they said.
Russia, a member of the G20 but not the G7, refers to its actions in Ukraine as a "special military operation".
India is pressing the meeting to avoid using the word "war" in any communique, G20 officials have told Reuters. India, which holds this year's G20 presidency, has kept a largely neutral stance on the war, declining to blame Russia for the invasion, seeking a diplomatic solution and sharply boosting its purchases of Russian oil.
India and China were among the nations that abstained on Thursday when the UN voted overwhelmingly to demand Moscow withdraw its troops from Ukraine and stop fighting.
Besides the G7 nations, the G20 bloc also includes such countries as Australia, Brazil and Saudi Arabia.
A senior G20 source said negotiations over the communique were difficult, with Russia and China blocking proposals by western countries.
The source and several other officials said barring a last-minute surprise, a consensus on the communique was unlikely and that the meeting was likely to end with a statement by the host summarising the discussions.
"In the absence of a consensus, the option for India would be to issue a chair statement," one official said.
India's foreign, finance and information ministries did not immediately respond to requests seeking comment.
On the sidelines, the International Monetary Fund held a meeting on Saturday with the World Bank, China, India, Saudi Arabia and the G7 on restructuring debt for distressed economies, but there were disagreements among members, said IMF managing director Kristalina Georgieva.
"We just finished a session in which it was clear that there is a commitment to bridge differences for the benefit of countries," Ms Georgieva, who co-chaired the roundtable with Indian Finance Minister Nirmala Sitharaman, told reporters.
Pressure has been building on China, the world's largest bilateral creditor, and other nations to take a large haircut in loans given to struggling developing nations.
In a video address to the G20 meeting on Friday, Chinese Finance Minister Liu Kun reiterated Beijing's position that the World Bank and other multilateral development banks participate in debt relief by taking haircuts alongside bilateral creditors.
US Treasury Secretary Janet Yellen said before the debt meeting that she would press all bilateral creditors, including China, to participate in meaningful discussions, adding that debt treatment for Zambia and financing assurances for Sri Lanka were "most urgent".
Zambia owed Beijing nearly $6 billion of a total external debt of $17 billion at the end of 2021, according to government data, while Ghana owes China $1.7 billion, according to the International Institute of Finance, a financial services trade association focused on emerging markets.
Sri Lanka owed Chinese lenders $7.4 billion — or nearly a fifth of public external debt — by the end of 2022, calculations by the China Africa Research Initiative think tank show.
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
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Cracks in the Wall
Ben White, Pluto Press
COMPANY%20PROFILE
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What is Genes in Space?
Genes in Space is an annual competition first launched by the UAE Space Agency, The National and Boeing in 2015.
It challenges school pupils to design experiments to be conducted in space and it aims to encourage future talent for the UAE’s fledgling space industry. It is the first of its kind in the UAE and, as well as encouraging talent, it also aims to raise interest and awareness among the general population about space exploration.
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
The biog
Hobbies: Writing and running
Favourite sport: beach volleyball
Favourite holiday destinations: Turkey and Puerto Rico
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
UAE currency: the story behind the money in your pockets
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UAE currency: the story behind the money in your pockets
MIDWAY
Produced: Lionsgate Films, Shanghai Ryui Entertainment, Street Light Entertainment
Directed: Roland Emmerich
Cast: Ed Skrein, Woody Harrelson, Dennis Quaid, Aaron Eckhart, Luke Evans, Nick Jonas, Mandy Moore, Darren Criss
Rating: 3.5/5 stars
SEMI-FINAL
Monterrey 1
Funes Mori (14)
Liverpool 2
Keita (11), Firmino (90 1)
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
Score
Third Test, Day 1
New Zealand 229-7 (90 ov)
Pakistan
New Zealand won the toss and elected to bat
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
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HWJN
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SPECS
Mini John Cooper Works Clubman and Mini John Cooper Works Countryman
Engine: two-litre 4-cylinder turbo
Transmission: nine-speed automatic
Power: 306hp
Torque: 450Nm
Price: JCW Clubman, Dh220,500; JCW Countryman, Dh225,500
UAE currency: the story behind the money in your pockets
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Killing of Qassem Suleimani
Killing of Qassem Suleimani
The specs
Engine: 3.0-litre 6-cyl turbo
Power: 374hp at 5,500-6,500rpm
Torque: 500Nm from 1,900-5,000rpm
Transmission: 8-speed auto
Fuel consumption: 8.5L/100km
Price: from Dh285,000
On sale: from January 2022
AS IT STANDS IN POOL A
1. Japan - Played 3, Won 3, Points 14
2. Ireland - Played 3, Won 2, Lost 1, Points 11
3. Scotland - Played 2, Won 1, Lost 1, Points 5
Remaining fixtures
Scotland v Russia – Wednesday, 11.15am
Ireland v Samoa – Saturday, 2.45pm
Japan v Scotland – Sunday, 2.45pm
MATCH INFO
Uefa Nations League
League A, Group 4
Spain v England, 10.45pm (UAE)
