Finance chiefs and central bank governors from the Group of 20 economies have shared concerns that the global economy could significantly lose steam due to rapid interest rate hikes conducted across the world to curb inflation.

The leaders met for two days through Thursday in Washington, as Russia's invasion of Ukraine was fanning fears about a possible global economic downturn.

They discussed worries about the tumbling value of the Japanese yen and other currencies against the US dollar after sharp rate hikes by the Federal Reserve.

Concerns also rose over the growing dollar-denominated debt shouldered by emerging economies.

The Japanese delegation sought understanding of last month's foreign exchange market intervention, the first such operation to buy yen and sell dollars in 24 years. It said the action was taken to halt a speculative move.