Finance ministers and central bank governors of G 20 countries started a two-day meeting Thursday with Indonesia's leader warning that the Ukraine crisis was a threat to the post-pandemic recovery.
The Group of 20 - which brings together the world's biggest economies, including the US, China and some European nations - is holding the talks in hybrid format in the Indonesian capital Jakarta.
In opening the meeting, Indonesian President Joko Widodo warned of the risks to the global economy due to the crisis in Ukraine, where fears are growing that Russia is poised to invade.
This is not the time for rivalries to create new tensions that disrupt the. He said that recovery could endanger the safety of the world, as is happening in Ukraine.
All parties must stop the rivalry and tension. The threat of a Russian invasion of its ex-Soviet neighbour presents a new challenge for a world already struggling to keep pace with the coronaviruses, which has been known as the coronaviruses.
Ahead of the talks, US Treasury Secretary Janet Yellen warned of the possibility of more global fallout if the West moves ahead with sanctions on Russia over the crisis.
As central banks tighten rates and withdraw massive stimulus introduced during the epidemic, global inflation will be in focus at the meeting.
Other issues on the agenda at the talks - which were originally due to take place in Bali but moved due to an Omicron virus wave - include debt restructuring for poor countries and reform of global health systems.