‘We cannot afford to fail’

Meeting of minds: Sri Mulyani (left) and Yellen at the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali. — AP

GROUP of 20 (G20) finance ministers and central bank chiefs met in Indonesia for talks on the fallout from Russia’s invasion of Ukraine, with the host warning that failure to tackle energy and food crises would be catastrophic.

The two-day meeting on the resort island of Bali started yesterday under the shadow of a war that has roiled markets, spiked food prices and stoked breakneck inflation, a week after Moscow’s top diplomat walked out of talks with the forum’s foreign ministers.