SAO PAULO: Top finance officials from the Group of 20 major economies failed to adopt a joint statement at a meeting in Sao Paulo that ended Thursday due mainly to gaps in opinion over wars in Ukraine and the Middle East.

It is “regrettable” that the G20 finance ministers and central bank governors “have not reached an agreement on the wording over geopolitics,” KANDA Masato, Japanese vice finance minister for international affairs, told a press conference after the two-day meeting.

The G20 officials shared the view that the outlook for the global economy is highly uncertain though the possibility of a soft landing is growing, Kanda said. He cited wars as a downside risk.

Bank of Japan Governor Kazuo Ueda told the news conference that the Japanese economy is on a moderate recovery track. He expressed hopes that wage increases this spring will drive a recovery in personal consumption.

JIJI Press