jakartatokyo finance leaders from the group of 20 major economies will likely warn on friday that rising inflation and geopolitical risks could threaten a fragile global recovery as the crisis in ukraine and the covid19 pandemics fallout cloud the outlookfears that russia might invade ukraine overshadowed a meeting of g20 finance ministers and central bank governors which was expected to focus heavily on how to whittle down crisismode stimulus policies without disrupting a postpandemic recoveryin a draft communique seen by reuters the finance chiefs from the worlds leading economies pledged to use all available policy tools to address the impacts of the pandemic while warning that future policy space was likely to be narrower and uneveninflation is currently elevated in many countries due to supply disruptions a mismatch in supply and demand as well as rising commodity and energy costs the draft communique saidcentral banks will act where necessary to ensure price stability in line with their respective mandates while remaining committed to clear communication of their policy stances the ministers and governors saidthe draft statement contained no direct reference to the crisis on the ukrainerussia border saying only the g20 will continue to monitor risks including those arising from current geopolitical tensionsthe word current in brackets indicates that it may be deleted in the final communique if russia a member of the g20 pushes back against the languagethe g20 finance leaders will issue the final communique after their meeting ends on friday the talks were held both virtually and in jakartathe diverging pace of recovery from the pandemic is complicating the policy path for central banks expected steady interest rate hikes by the us federal reserve have drawn attention to the potential fallout for emerging marketswhile cases of the omicron variant of covid19 are receding in many wealthy countries they are still rising in many developing nations including host country indonesiathe g20 finance leaders are expected to voice support for ensuring timely and affordable access to covid19 vaccines therapeutics diagnostics and other medical supplies for low and middleincome countries according to the draft communique