G20: Ramaphosa set to meet with more world leaders in CT
The meetings are expected to lay the groundwork for some of the world’s leading and emerging economies to find common ground on how to spur economic growth, fight high inflation, and how to make global financial institutions more fit for purpose.
President Cyril Ramaphosa delivers the keynote address at G20 Foreign Ministers’ Meeting in Joburg. X/@PresidencyZA
JOHANNESBURG - President Cyril Ramaphosa is set to meet with more world leaders in Cape Town on Wednesday morning as the G20 finance ministers and reserve bank governors host talks on the global economy.
The deputies met for a second time at the start of the week since South Africa assumed the G20 presidency at the end of 2024.
Foreign ministers from the bloc also met in Johannesburg last week.
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The meetings are expected to lay the groundwork for some of the world’s leading and emerging economies to find common ground on how to spur economic growth, fight high inflation, and how to make global financial institutions more fit for purpose.
More broadly, the first G20 finance meeting and central bank governors meeting will also focus on debt, infrastructure, international taxation, finance sector issues, and sustainable finance.
Of all the key figures in fiscal policy on the G20 bloc, United States (US) Treasury Secretary Scott Bessent will be notably absent from the gathering after confirming on social media that he had other domestic obligations to attend to.
The announcement last week fuelled further speculation that Washington’s relationship with Pretoria is deeply troubled.
But as Ramaphosa has been at pains to explain at the other G20 meetings, his absence is unlikely to impact the business of the day.
The business segment of G20 - dubbed B20 - also met in Cape Town this week, where they amplified calls for Africa to capitalise on its resources to get ahead.