G-20 Members Reach Adopts “New Delhi Declaration”

• 12 Sep 2023

Recently, G-20 members successfully reached a consensus on the sensitive "Ukraine paragraphs," marking a significant shift from the previous G-20 statement in Bali, which had strong criticism of Russia.

• The breakthrough resulted from negotiations initiated by Indonesia, India, Brazil, and South Africa, as proposed by them.

Key Points

• Role of Emerging Markets: The consensus was primarily attributed to the stand taken by emerging markets, particularly Indonesia, India, Brazil, and South Africa.
• These countries, as consecutive hosts of the G-20, played a vital role in bridging differences among members.
• Bali vs. New Delhi Declaration: While the Bali document used strong language like "condemning" and "deploring" Russia's invasion of Ukraine, the New Delhi Declaration refers to differing "national positions" among G-20 members on the "war in Ukraine."
• It emphasizes the need for all states to refrain from threatening or using force for territorial acquisition.
• Importance of Consensus: EU and G-7 countries had to choose between accepting the text or having no statement at all.
• The absence of a G-20 statement would have negatively impacted the organization's credibility, potentially leading to its replacement by other blocs like BRICS and G-7. Hence, reaching a consensus was crucial to maintain the G-20's relevance.
• Key Agreements in the Declaration: The New Delhi Declaration, comprising 83 paragraphs, covers various agreements, including strengthening multilateral development banks, regulating cryptocurrencies, using digital public infrastructure for financial inclusion, and addressing debt distress for vulnerable countries.
• It also emphasizes a significant increase in climate financing and clean energy investments.