G20 Finance Leaders Optimistic on Global Soft Landing Amidst Conflicts

G20 finance leaders are optimistic about a global economic 'soft landing' while warning of risks from ongoing conflicts. They are negotiating a declaration on international tax cooperation, focusing on taxing the super-rich. The group will also address the uneven global recovery and climate change's impact on inequality.

Group of 20 finance leaders are cautiously optimistic about the prospects of a 'soft landing' for the global economy, according to a draft communique seen by Reuters. However, they also warned about risks from ongoing 'wars and escalating conflicts.'

Tatiana Rosito, Brazil's G20 finance coordinator, expressed confidence in reaching a consensus for an extensive joint statement that reflects the group's work so far. Notably, Brazil is advocating for an unprecedented declaration focused on international tax cooperation, including taxation of the super-rich.

The draft communique also highlights the uneven global recovery and flags risks such as economic divergences, inflation, and technological innovations. Despite omitting explicit mentions of conflicts in Ukraine and Gaza, the statement addresses economic threats and climate change's role in aggravating inequality.