IMF head warns rising food and fuel prices strain family budgets ‘to breaking point’ – as it happened

Live rolling coverage of business, economics and financial markets

• IMF MD Kristalina Georgieva says double crisis' from Ukraine war and Covid is a massive setback for the global recovery'
• IMF open to emergency financing for nations facing food insecurity
• Gazprombank demands $300m repayment from London-listed gold miner Petropavlovsk
• Miner Rio Tinto flags risks from inflation and prolonged Ukraine war
• Closing summary

The UK Treasury has told me that there will be British representation at all G20 meetings: some will attended by the chancellor, and other meetings by another British official. He said this is not unusual, as Rishi Sunak is not able to attend all meetings himself.

Western nations are preparing to stage coordinated walkouts and other diplomatic snubs in protest against Russia's invasion of Ukraine at a meeting of G20 finance ministers in Washington.