SA to conduct review of G20's operational processes, says Treasury DG Pieterse

CAPE TOWN - Treasury Director-General Duncan Pieterse said South Africa wants to conduct a review of the G20's operational processes during its presidency this year.

The finance track of the global bloc is currently meeting in Cape Town in a second set of meetings of deputy finance ministers and central bank deputy governors following the inaugural session in Johannesburg in December.

Among the topics for discussion are the obstacles in financing development in emerging markets, particularly in Africa, as well as the high debt of many of these economies.

The G20 bloc is now in its 26th year of operation and for the first time, an African country has taken the reins for the year-long programme.

But Pieterse said it was high time for an assessment of how things have been running.

"The South African Presidency, working with the G20 membership, will for the first time conduct a review of these processes and consider how to improve and strengthen them."

He said that financing for development remained top of the agenda for poor, African countries.

"We will also hold a very important discussion this week on the challenges and constraints to growth in developing countries, including African countries."

Several side events are also slated this week, including meetings of the troika of past, current and future presidencies and bilateral meetings with G20 members and organisations.

On Wednesday, President Cyril Ramaphosa is set to address the gathering as the bloc of finance ministers and central bank governors hold high-level talks on the discussion points that have emerged from these two days of preparatory discussions.