Critical moment

陈小将

In the declaration, the G20 leaders noted that the global economy is at its "critical moment", making it essential for the group to undertake "tangible, precise, swift and necessary actions, using all available policy tools, to address common challenges, including through international macro policy cooperation and concrete collaborations".
The declaration adds: "In doing so, we remain committed to supporting developing countries, particularly the least developed and small island developing states, in responding to these global challenges and achieving the sustainable development goals."
The leaders said they will take coordinated actions to advance an agenda for a strong, inclusive and resilient global recovery and sustainable development that delivers jobs and growth. To achieve this aim, they affirmed that they will be flexible in their macroeconomic policy responses.
They have also committed to long-term fiscal sustainability by using all available tools to mitigate risks. The leaders noted the steps taken during the global financial crisis and how to strengthen financial resilience and promote sustainable finance and capital flows.
In addition, they vowed to promote food and energy security and stabilize markets, providing temporary and targeted support to cushion the impact of price increases.
The leaders also aim to strengthen dialogue between producers and consumers, and increase trade and investments for long-term food and energy security needs.
The leaders also wish to unlock further investments for low- and middle-income and other developing countries through innovative financing sources.
"We commit to protecting the most vulnerable from hunger by using all available tools to address the global food crisis. We will take further coordinated actions to address food security challenges including price surges and shortage of food commodities and fertilizers globally," the G20 leaders said.
Widodo said the leadership of the G20 has also called for an end to the Ukraine-Russia conflict, which has hurt a world economy still reeling from the pandemic. He said this was the most contentious provision and that the leaders had intense debates before reaching an agreement.