World leaders are meeting at the G20 summit in Bali, Indonesia to discuss key issues in global market stability.
According to Arab News, the issue of tension caused by the war in Ukraine and its economic consequences will be discussed in the meeting held in Bali's Nusa Dua Island.
This group includes Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom and the United States, as well as the European Union.
Together, these major world economies account for 80 percent of global economic output, about 75 percent of exports, and about 60 percent of the world's population.
Members of the G-20 group meet annually to discuss economic and financial issues and coordinate policy on other issues of mutual interest.
The group's annual summit is hosted and chaired by various member states, allowing the host country to highlight key issues.
Indonesia, which chairs the group, the world's fourth most populous and largest Muslim-majority country, is focusing on post-coronavirus recovery, energy transition and digital transformation.
Three months after assuming the presidency of the G-20 summit, Russia's invasion of Ukraine has added a new twist to the equation, making food and energy security a key topic of discussion.
According to a survey conducted by the World Economic Forum in early November, inflation in the world has reached a level not seen in decades.
The global economic recession caused by the coronavirus pandemic has been exacerbated by the ongoing war in Europe.
High fuel and food prices are often associated with large-scale protests, political violence and unrest.
Following riots in Sri Lanka and Peru, Turkey, Pakistan and Egypt are also at risk of social unrest, and these issues are also expected to be high points at the G20 summit.
