banking service chronicle published this article page no 1 G20 BALI DECLARATION Why in News? The 17th G20 summit concluded recently with the adoption of Bali declaration. More on News The motto for this G-20 summit was Recover Together Recover Stronger. Also India took over the presidency of G20 from Indonesia. Key Highlights of the Bali Declaration-2022 The Group highlighted its differences in the on-going war in Ukraine and asked for Russias complete withdrawal from the territories of Ukraine. Group also reassured its Commitment to secure Global Food security. The Group welcomed the Black Sea Grain initiative brokered by Turkey and UN.It is an MoU signed between Russia and UN Secretariat to allow export from Russia and Ukraine on food products and fertilizers to ease the tension in the region. The Group has welcomed the provision of additional financial resources to assist in financing critical gaps in implementing International Health Regulations (2005) It also applauded the establishment of a new Financial Intermediary Fund for Pandemic PPR (the Pandemic Fund) hosted by the World Bank. Need for reforms in other multilateral institutions banking service chronicle magazine subscription.
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