The Governor of the Bank of England Bailey called for global cooperation at the G-20 meeting.

Andrew Bailey, Governor of the Bank of England, urged finance ministers from various countries to promote "global cooperation and engagement" at the G-20 meeting, but United States Treasury Secretary Scott Benett was absent from the meeting. Bailey, as the chair of the Financial Stability Board, addressed G-20 finance ministers and central bank governors for the first time, expressing concern about the current situation. He stated that economic and geopolitical tensions are escalating, global debt vulnerability remains high, and uncertainty continues to "dampen growth expectations." "No jurisdiction can achieve financial stability alone," he wrote in a letter on Monday. "A globally interconnected system requires global cooperation and engagement." Reports recently indicated that Benett would be absent for the second time in a row at the finance ministers' meeting held in South Africa.