Challenges affecting emerging markets kick off discussions at G20 Finance Track meeting
Opening the four-day meeting, Treasury director general Duncan Pieterse said this breakfast meeting included talks on the current state of the global economy and high public debt, and how it’s impacting Africa in particular.
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CAPE TOWN - Challenges affecting emerging markets and developing economies have set the scene for the start of discussions at the G20 meeting of central bank deputies and deputy finance ministers in Cape Town on Monday.
Opening the four-day meeting, Treasury Director General Duncan Pieterse said this breakfast meeting included talks on the current state of the global economy and high public debt, and how it’s impacting Africa in particular.
READ: High public debt again expected to feature prominently on G20 Finance Track agenda
This is the second of a set of five finance meetings slated for the year under South Africa’s G20 Presidency.
Pieterse said following the December meetings, participants are picking up where they left off on such issues as the impact of obtaining financing for infrastructure development.
Pieterse said these closed-door discussions will also feature perspectives on the reform of international financial architecture.
He said South Africa’s presidency is very purposeful that discussions centre around its G20 theme of "Solidarity, Equality and Sustainability".
"To support not only the South African presidency but also African countries and other developing countries including small developing states in addressing their economic, financial and developmental challenges."
Pieterse said the G20 finance track will this week also be doing preparatory work ahead of the financing for the development conference in Spain later in 2025.