News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
19
o
Bekaa
12
o
Keserwan
20
o
Metn
20
o
Mount Lebanon
19
o
North
19
o
South
19
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Al Beit El Abyad
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
19
o
Bekaa
12
o
Keserwan
20
o
Metn
20
o
Mount Lebanon
19
o
North
19
o
South
19
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Documentaries
Lebanon’s Centennial
News Bulletin
The Untold History
Talk Show
Series
Sports
Variety
Other
Comedy
Oldies
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
G20 finance leaders fail to reach joint statement amid Gaza, Ukraine debate
World News
2024-03-01 | 03:14
High views
Share
Share
4
min
G20 finance leaders fail to reach joint statement amid Gaza, Ukraine debate
Finance leaders from the world's largest economies failed to agree on a joint statement as they wrapped up talks on Thursday, with divisions over the wars in Gaza and Ukraine overshadowing efforts to forge a consensus on global economic development.
Brazil, which hosted finance ministers and central bank chiefs from the Group of Twenty (G20) major economies, issued its own summary instead of a shared communique. India took a similar tack in its G20 presidency last year but still rallied most of the G20 in condemnation of Russia for invading Ukraine.
Brazil's summary, in line with a draft communique seen by Reuters on Tuesday, cited the economic risks of "wars and escalating conflicts" but urged debate on them in other venues. It also noted higher odds of a "soft landing" for the global economy, which would cool inflation without a major recession.
Brazilian Finance Minister Fernando Haddad told journalists that differences among G20 foreign ministers discussing regional conflicts the week before had "contaminated" talks on the financial track, spoiling efforts to reach a joint statement.
G20 officials debated late into the night and down to the final hours of the meeting how to describe the wars in a joint communique, with Russia and major Western nations at loggerheads over the language, according to people familiar with the matter.
Those geopolitical tensions ran throughout the two-day meeting, at times overshadowing the formal agenda, such as discussion of a global minimum wealth tax on the ultra-rich proposed by Brazil.
The G7 group of rich Western nations and Japan backed the idea of referring to the war "on" Ukraine, while Russia wanted to describe it as the war "in" Ukraine, said two people familiar with the matter.
The G7 countries also backed language describing the war in Gaza as a "humanitarian crisis" with no mention of Israel, the sources said.
Brazilian officials hosting the event had tried to focus talks on economic cooperation to tackle issues such as climate change and poverty, but countries, including Germany, pushed for a joint statement mentioning wars in Ukraine and Gaza.
Japan's vice finance minister for international affairs, Masato Kanda, who attended on behalf of the finance minister, brushed aside the view that the G20's credibility was on the line.
"Conflicts have a huge impact on the global economy. It affects energy and food prices, among other things. Therefore, it's obvious the impact must be discussed at the G20," he told a news conference after the G20 meeting.
Despite the tensions hanging over the meeting in Sao Paulo, Achim Steiner, head of the United Nations Development Program (UNDP), called the start of Brazil's presidency this year a success as the only contention of the second day of finance track talks was "over a few words" in a joint statement.
"Brazil had set clear priorities, for example, with their tax proposal," Steiner told Reuters on Thursday.
As part of efforts to address inequality, Brazil has proposed debates on a global minimum wealth tax that would ensure increased tax contributions by super-rich individuals.
"Even with slightly higher tax rates for the approximately 2,500 billionaires worldwide, very considerable additional revenue could be generated," he said.
Brazil will aim to craft a statement on international taxation by the group's July summit, Finance Minister Fernando Haddad said on Thursday. He said he was expecting a report on the matter from the European Tax Observatory, which has advocated for a global wealth tax on the world's richest people, in contrast with income taxes common in most major economies.
French Finance Minister Bruno Le Maire expressed support on Wednesday for a global minimum tax on the world's most wealthy.
Reuters
World News
G20
Finance
Leaders
Gaza
Ukraine
War
Brazil
Russia
Next
Former Canadian PM Mulroney dies aged 84
Bangladesh fire kills 45, injures dozens
Previous
Related Articles
d-none hideMe
0
World News
2024-02-21
Brazil at G20 meeting: UN Security Council 'paralysis' regarding Gaza and Ukraine is 'unacceptable'
World News
2024-02-21
Brazil at G20 meeting: UN Security Council 'paralysis' regarding Gaza and Ukraine is 'unacceptable'
0
World News
2024-05-01
The US imposes sanctions on companies in Russia, China over Ukraine war
World News
2024-05-01
The US imposes sanctions on companies in Russia, China over Ukraine war
0
World News
2024-04-26
Blinken: Russia will 'struggle' in its war in Ukraine without China
World News
2024-04-26
Blinken: Russia will 'struggle' in its war in Ukraine without China
0
World News
2024-04-24
Russia, Ukraine agree to exchange 48 displaced children by the war
World News
2024-04-24
Russia, Ukraine agree to exchange 48 displaced children by the war
Recommended For You
d-none hideMe
0
World News
15:04
White House's Jake Sullivan to travel to Saudi Arabia, Israel
World News
15:04
White House's Jake Sullivan to travel to Saudi Arabia, Israel
0
World News
14:32
US: 50 aid trucks entered Gaza on Sunday, 'this is not enough'
World News
14:32
US: 50 aid trucks entered Gaza on Sunday, 'this is not enough'
0
Israel-Gaza War Updates
13:33
No single action constitutes a 'red line' on UK arms exports to Israel, deputy PM told Reuters
Israel-Gaza War Updates
13:33
No single action constitutes a 'red line' on UK arms exports to Israel, deputy PM told Reuters
0
World News
11:07
Federal Reserve Chair Powell expects inflation to fall
World News
11:07
Federal Reserve Chair Powell expects inflation to fall
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
Press Highlights
2023-10-10
War impact on Lebanon's economy: 10 economic reasons why Lebanon cannot afford the consequences of a new war
Press Highlights
2023-10-10
War impact on Lebanon's economy: 10 economic reasons why Lebanon cannot afford the consequences of a new war
0
Middle East News
2024-04-14
Macron condemns Iranian attack on Israel and calls for 'restraint'
Middle East News
2024-04-14
Macron condemns Iranian attack on Israel and calls for 'restraint'
0
World News
00:27
Washington sees no genocide in Gaza, condemns aid convoy attacks
World News
00:27
Washington sees no genocide in Gaza, condemns aid convoy attacks
0
Israel-Gaza War Updates
2024-04-14
Israel says Hamas rejected hostage agreement proposal
Israel-Gaza War Updates
2024-04-14
Israel says Hamas rejected hostage agreement proposal
Videos
d-none hideMe
0
Lebanon News
13:35
Exclusive LBCI interview: Canadian FM urges ceasefire and Resolution 1701 adherence in Lebanon talks, discusses Canadian support for LAF, UNIFIL
Lebanon News
13:35
Exclusive LBCI interview: Canadian FM urges ceasefire and Resolution 1701 adherence in Lebanon talks, discusses Canadian support for LAF, UNIFIL
0
Lebanon News
2024-04-30
University Students Organize Solidarity Protest for Palestine (VIDEO)
Lebanon News
2024-04-30
University Students Organize Solidarity Protest for Palestine (VIDEO)
0
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
Lebanon News
2023-12-11
Breaking: Israel launches raid north of Litani on Monday (Video)
0
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
Lebanon News
2023-11-02
Exclusive to LBCI: U.S. State Department's Wooster Stresses Lebanon Must Avoid War, Sees Renewed Push for Two-State Solution
0
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
Lebanon News
2023-10-18
Protests Erupt near US Embassy in Awkar Against Israeli Attacks on Al-Maamadani Hospital in Gaza
0
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
Lebanon News
2023-10-05
ATFL's Ambassador Edward Gabriel on Navigating Through Economic, Political, and Refugee Crises
0
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
Sports News
2023-08-31
Amir Saoud Powers Lebanon to Victory Over Cote d'Ivoire: A Deep Dive Into The Numbers
0
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
Sports News
2023-08-29
France Edges Past Lebanon in a Nail-Biter at FIBA World Cup 2023: A Statistical Deep Dive
0
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Lebanon News
2019-02-28
Pierre el-Daher, the man who defeated the Lebanese Forces
Most read
d-none hideMe
24 hours
7 days
Month
1
Lebanon News
05:13
Young man's body recovered by Civil Defense Marine Rescue Unit after drowning on Sunday
Lebanon News
05:13
Young man's body recovered by Civil Defense Marine Rescue Unit after drowning on Sunday
2
Israel-Gaza War Updates
05:54
UNRWA: 450,000 people displaced from Rafah since May 6
Israel-Gaza War Updates
05:54
UNRWA: 450,000 people displaced from Rafah since May 6
3
Lebanon News
04:35
Maan Khalil to LBCI: The Syrian influx has strained our capacities
Lebanon News
04:35
Maan Khalil to LBCI: The Syrian influx has strained our capacities
4
Lebanon News
13:35
Exclusive LBCI interview: Canadian FM urges ceasefire and Resolution 1701 adherence in Lebanon talks, discusses Canadian support for LAF, UNIFIL
Lebanon News
13:35
Exclusive LBCI interview: Canadian FM urges ceasefire and Resolution 1701 adherence in Lebanon talks, discusses Canadian support for LAF, UNIFIL
5
Israel-Gaza War Updates
03:53
Qatari PM: Gaza ceasefire talks have reached a deadlock
Israel-Gaza War Updates
03:53
Qatari PM: Gaza ceasefire talks have reached a deadlock
6
Lebanon News
05:13
Bashir Matar to LBCI: Syrian displacement is an existential danger, ready to coordinate with any party for solution
Lebanon News
05:13
Bashir Matar to LBCI: Syrian displacement is an existential danger, ready to coordinate with any party for solution
7
Lebanon Economy
02:18
Fuel prices decrease across Lebanon
Lebanon Economy
02:18
Fuel prices decrease across Lebanon
8
Lebanon News
15:36
Breaking: Israeli drone strike targets vehicle in Tyre: NNA
Lebanon News
15:36
Breaking: Israeli drone strike targets vehicle in Tyre: NNA
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More