Currencies

G20 leaders’ declaration says most members strongly condemn war in Ukraine


The declaration said “most members strongly condemned the war in Ukraine and stressed it is causing immense human suffering and exacerbating existing fragilities in the global economy.”

It was approved by all members of the G20 bloc, three diplomatic sources told Reuters.

A German delegate said it was adopted without any changes from a draft released on Tuesday.

The declaration said there were “other views and different assessments of the situation and sanctions”.

International law must be upheld and the threat of the use of nuclear weapons was inadmissible, the leaders said in the declaration, while welcoming the Black Sea grain initiative.

It also said members’ central banks would continue to appropriately calibrate the pace of monetary policy tightening while being mindful of the need to limit “cross-country spillovers.”

Members reaffirmed their commitment to avoid excessive exchange-rate volatility while recognising that “many currencies have moved significantly” this year.

(This story has been corrected to fix the headline and first paragraph to make clear that G20 declaration’s reference to Russia’s aggression cites a U.N. General Assembly resolution and is not a declaration by the G20 leaders)

(Reporting by Stanley Widianto, Andreas Rinke and Ananda Teresia; Writing by Kanupriya Kapoor; Editing by Martin Petty)



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