Yellen-US Still Strongly Committed To G20 Work Despite Lack Of Communique

US Treasury Secretary janet Yellen on wires. Asked on the failure of the G20 Finance Ministers and Central Bank Governors meeting to issue a joing communique following the conclusion of the 28-29 Feb summit, Yellen claims that "the US is still strongly committed to th G20's work", adds that the bloc is "still working cooperatively on issues of taxation, climate, and others."

• Yellen says that "many countries including the US expressed our disapproval of Russia's behiaviour in Ukraine and its highly negative repercussions for the global economy."
• On the communique itself Yellen says that "it has been challenging to find a consensus on language".
• In the event Brazil issued a chairman's summary, the statement released when an agreed joint communique is not forthcoming.
• Brazilian Finance Minister Fernando Haddad claimed that despite efforts to ensure the meeting focused solely on economic issues, last week's G20 Foreign Ministers' meeting had "contaminated" this week's talks. As such there was little progress on high-priority issues for the Brazilian presidency, such as a global tax on high net-worth individuals.
• The lack of joint communique will come as a blow to Brazil, and the administration of President Luiz Inacio Lula da Silva will be keen to avoid a repeat at the autumn leaders summit, especially given India managed to broker a joint statment at the 2023 summit.