Russia is a disease of the world economy, as a result of the Russian war in Ukraine, the growth of the world economy is slowing down, and the world must make the right choice. This was stated by Finance Minister Sergei Marchenko at the G20 session "
The main points from Sergey Marchenko's speech at the G20 session:.
Russia is a disease of the world economy. Ukraine is immune cells that must be activated by international medicine in order to kill the disease. There is no other solution. Otherwise, the infection will spread to other countries and infection will begin..
The consequences of the war are felt not only by Ukraine. War slows growth, raises food and energy prices, accelerates inflation and lowers incomes while disrupting trade and supply chains around the world. The loss of Ukrainian agricultural production will be painfully felt thousands of kilometers away: from North Africa to South America. Advanced economies are already suffering from the crisis.
The global financial system may go to survival - if the right choice is not made.
Russia's war against Ukraine is another global crisis that needs a common approach - the world must join forces to stop this war and help Ukraine.
Before the global consequences become a reality, we need support - external funding that can normalize the economic situation in Ukraine.
Excluding military spending, the Ukrainian budget is a combination of humanitarian and social spending, as well as support for vulnerable segments of the population. And the Ukrainian government fully provides them. We note that even in this extremely difficult situation, the Ukrainian government is fully functioning, and the budget is focused on these goals..
We hope that the Ukrainian military will end the war soon, but until then we must be able to fund humanitarian and social needs.. And for this the world must make the right choice..
To win this war, stop the crisis and bring other countries back from the financial abyss - the world must forget about the differences between countries and coordinate actions to stop the war and force Russia to withdraw its troops from the sovereign territory of Ukraine.
In order for the Ukrainian government to operate at full capacity and so that we can continue to provide all the necessary services to our population, as we are doing now, we call for allocating some of our resources in any form for the needs of the budget of Ukraine.
Not all those present at the session are donor states. But everyone got their share of special drawing rights from the IMF. And if you send at least 10% of them to Ukraine, it will be of great importance to us..
Now is the right time for the right choice. This war must end.
Recall, for the first time in history, Ukraine participates in the G20 meeting.. The G20 meeting is the largest international financial event of the year.
The event began with an appeal by representatives of world leaders to Ukraine.
US Treasury Secretary Janet Ellen expressed support for Ukraine and noted the efforts of the Ukrainian government and Treasury Secretary Sergei Marchenko in the face of a full-scale Russian invasion.
European Central Bank President Christine Lagarde said the world will not forget the loss, pain and suffering caused by Russia's actions..
Representatives of the European Commission mentioned war crimes in Bucha and many other cities of Ukraine, and strongly condemned the actions of the Russian Federation. They also stressed that the EU should be independent of Russian energy sources..