Meanwhile, rising consumer prices and government stimulus programs to help economies bounce back from the pandemic may be discussed, but central banks tend to deal with higher prices and stimulus spending is decided at the national level.
Negotiations before the summit have not focused on a large number of vaccines that could be made available, though countries talked about strengthening health systems. Donated doses are coming in at a fraction of what is needed, and developed countries are focused on booster shots for their own populations. The G-20 countries have supported vaccine-sharing through the U.N.-backed COVAX program, which has failed to alleviate dire shortages in poor countries. Yet big headlines on vaccine cooperation may not be forthcoming at the Rome summit. The International Monetary Fund says the top priority for the economic recovery is simple: speed up the vaccination of the world population. Here’s a look at some of the economic issues facing G-20 leaders: Climate Change Conference begins Sunday in Glasgow, Scotland. That may not bode well for cooperation, especially on energy issues as climate change takes center stage just before the U.N. Health and financial officials are sitting down in Rome on Friday before presidents and prime ministers gather for the G-20 Saturday and Sunday, but the leaders of major economic players China and Russia won’t be there in person. Analysts question how much progress they can make to ease the burden right away on people facing rising prices on everything from food and furniture to higher heating bills heading into winter. The summit will allow leaders representing 80% of the global economy to talk - and apply peer pressure - on all those issues. ROME (AP) - Leaders of the Group of 20 countries gathering for their first in-person summit since the pandemic took hold will confront a global recovery hampered by a series of stumbling blocks: an energy crunch spurring higher fuel and utility prices, new COVID-19 outbreaks and logjams in the supply chains that keep the economy humming and goods headed to consumers.
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