G-20 finance chiefs to tackle global economic threats
Associated PressBENGALURU, India — Top financial leaders from the Group of 20 leading economies are gathering in the south Indian technology hub of Bengaluru this week to tackle myriad challenges to global growth and stability, including stubbornly high inflation and surging debt. This week’s gathering of finance ministers and central bank governors takes place just a year after Russia invaded Ukraine, setting off a cascade of shocks to the world economy, chief among them decades-high inflation. “India has a growing leadership role globally,” Information Minister Anurag Thakur, said Wednesday, reiterating Indian Prime Minister Narendra Modi’s stance that “today’s era is not of war. It’s an urgent priority, given the growing importance of emerging economies to global growth: the International Monetary Fund estimates that India and China alone will contribute more than half of global economic growth this year, with other Asian countries contributing another quarter of that expansion with annual growth rates of 6% to 7%. Improving urban infrastructure will figure in this week’s talks, the first of four G-20 finance minister meetings due to take place this year in India.