G20 communique talks progressing well, says German official

After a gathering of foreign ministers in Rio de Janeiro last week focused on deep divisions over Russia's invasion of Ukraine and Israel's bombardment of Gaza, G20 finance officials are expected to set aside geopolitics and focus on global economic issues as they gather in Sao Paulo this week. The draft communique that deputy finance ministers have been revising reflects a delicate effort to acknowledge regional conflicts while maintaining consensus, which Brazil has emphasized during its presidency of the G20 major economies.

Negotiations on a joint communique by Group of 20 finance leaders are on the home straight, a German government representative said ahead of the meeting in Brazil this week. "The whole thing is progressing very well," the representative told a press briefing on Tuesday, adding that only a few points of contention remain.

The final document will make clear that the global economy is resilient but there are major problems such as inequality between countries and excessive debt, the representative added. After a gathering of foreign ministers in Rio de Janeiro last week focused on deep divisions over Russia's invasion of Ukraine and Israel's bombardment of Gaza, G20 finance officials are expected to set aside geopolitics and focus on global economic issues as they gather in Sao Paulo this week.

The draft communique that deputy finance ministers have been revising reflects a delicate effort to acknowledge regional conflicts while maintaining consensus, which Brazil has emphasized during its presidency of the G20 major economies.