G20: Finance ministers seek consensus

BRASILIA, July 22 (Reuters) – Finance ministers and central bankers from the Group of 20 nations are meeting this week to renew their efforts to reach consensus on the economic path ahead of U.S. elections, at a gathering where they will avoid discussing the ongoing conflicts in Ukraine and Gaza to prevent those issues from dominating the discussions.

According to Brazilian diplomats, representatives of the major G20 economies have decided not to address the issue of conflicts in a joint statement by finance ministers who will meet on July 25 and 26 in Rio de Janeiro.

A meeting of the same ministers and central bankers in Sao Paulo in February failed to produce a joint statement after Russia and major Western nations failed to agree on how to describe the war in Ukraine and Israel’s bombing of Gaza.

The new approach could lead to a focus on economic cooperation in areas such as climate change and poverty. Two Brazilian government officials said the meeting hosts also hope to gain more support for a proposed global tax on the “super-rich,” which Brazil has made a priority of its G20 presidency.

Pressure has been mounting for progress before the next meeting of the financial track in October, the last before the G20 leaders meet in November, the month in which the US elections take place.

“We come into July knowing that we have to make deals. October will be completely overshadowed by the U.S. elections,” said one of the Brazilian officials, who requested anonymity to speak openly.

Brazil continues to prioritize a joint statement on international tax cooperation during its G20 presidency. (Reporting by Marcela Ayres and Bernardo Caram; Editing by Augustin Turpin; French version by Elena Smirnova)