the finance and central bank chiefs of the worlds largest economies will debate the risks of russias prolonged war in ukraine and yet another shift to resuming interest rate hikes in meetings next week in gandhinagar india the discussions among the group of 20 nations come as the war drags on for nearly 17 months slowing the global economy and keeping policymakers on edge over resurgent inflation and stuttering growth g20 chiefs are also examining regulations for cryptocurrencies and ways to access more climate financingthere will be demands on the world bank and the international monetary fund to shore up their balance sheets and address the impact of climate change and future pandemics the g20 meetings will build on discussions in paris last month involving 40 world leaders who made commitments for easier access to cash for poorer countries facing debt stress here are the major themes at play for the key meetings next monday and tuesday war language as the g20 president this year india struggled to get countries to agree to language around the war and is trying to achieve a chair summary at the end of next weeks meetings thats a tall order given india failed to secure a statement in the last finance ministers meeting in aprilchina and russia had objected to language describing the conflict even as western leaders condemned moscow and pledged further support for ukraine its expected it will remain tough for india to negotiate language that is palatable to all the g20 members ahead of the leaders summit in september on all items in core agenda common ground was found except for the impact of war between russia and ukraine on the world economy indias economic affairs secretary ajay seth said on thursdayinterest rate conundrumglobal monetary policymakers are increasingly diverging on policy stances particularly when it comes to inflation while elevated price gains are keeping us and european central banks in tightening mode the prospect of deflation is compelling china to consider further easing central bankers will also discuss threats posed by the banking sector turmoil that shook investors worldwide earlier this year the failure of two midsized us lenders and a nearcollapse of european banking giant credit suisse group raised fears of a contagion complicating the growth trajectory for the world thats also dealing with the aftereffects of the war in europe multilateral reformsan overhaul of the world bank and the imf will be on the table with treasury secretary janet yellen leading the charge she has urged the development lenders to work harder to mobilize private capital as global challenges mountan expert panel headed by economists lawrence summers and nk singh suggested both lenders ramp up annual loans to developing countries while tapping sovereign donors and the private sector for further funds according to people familiar with the matter the panel has also advocated boosting marketlinked financing to 300 billion annually by 2030 they said in comparison the volume of financing resources committed by multilateral organization stood at 162 billion