TOKYO: Top Group of 20 finance officials will meet in Washington for two days from Wednesday, with agenda items including reform of multilateral development banks and issues in funding for climate change measures.

In their previous meeting in February, G-20 finance ministers and central bank chiefs were unable to adopt a joint statement due to gaps in views over issues including Ukraine and increasing tensions in the Middle East.

Brazil, this year’s chair of the G-20 forum, is expected to stop short of compiling a joint statement at the upcoming meeting.

The country apparently hopes that the Washington meeting will shed light on hunger and poverty, and focus on discussions on taxation aimed at narrowing economic gaps.

From Japan, Finance Minister Shunichi Suzuki and Bank of Japan Governor Kazuo Ueda may attend the meeting.

“I want to actively participate in (G-20) discussions in order to help strengthen international cooperation,” Suzuki told a press conference Friday.

Following the yen’s recent plunge against the dollar, financial market players and others are expected to pay close attention to whether and how foreign exchange rate issues will be addressed at the G-20 talks and press conferences to be held by participants of the meeting, analysts said.

On the sidelines of the G-20 session, a meeting of finance ministers and top central bankers from the Group of Seven major industrial nations is expected to be held in Washington, with Italy, which serves as this year’s G-7 chair, aiming to adopt a joint statement.

The G-7 officials are expected to reaffirm cooperation regarding support for Ukraine, which has been invaded by Russia, and economic sanctions on Moscow.

Suzuki is likely to explain Japan’s position that Russian assets frozen as part of the sanctions should be utilized in a way that does not violate international law.

The G-7 officials are also seen trying to share their views on geopolitical issues that would increase uncertainties in the global economy, such as the crisis in the Gaza Strip and the situation in the Red Sea, pundits said.

JIJI Press