News Briefs 23 July 2025
South Africa’s G20 Presidency 2025
G20 South Africa 2025: a defining moment for the nation and the continent
South Africa is preparing to welcome the world in 2025 as it assumes the presidency and hosts the G20 Summit in Johannesburg, a moment of national pride and continental significance. This milestone places South Africa, and by extension Africa, at the centre of global dialogue on economic growth, sustainable development, climate resilience, digital transformation, and multilateral cooperation.
In the words of South African Deputy President Paul Mashatile, South Africa’s goal is to promote mutually beneficial economic growth, create jobs and advance sustainable development for its partner nations.
The Group of Twenty, commonly known as the G20, is the world’s premier forum for economic cooperation. Representing more than 85% of global GDP, over 75% of world trade, and two-thirds of the planet’s population, the G20 convenes the most powerful economies to address pressing global challenges.
IOL 23 July 2025
G20 finance ministers reach consensus on key economic issues
The finance ministers of the Group of 20 have finally reached a consensus following meetings in South Africa, emphasising that central banks must remain independent in reaction to months of attacks by United States President Donald Trump.
In their final statement published on Friday, following two days of meetings in the coastal city of Durban, the grouping agreed on key challenges for the global economy, including ongoing wars and conflicts, trade disputes, supply chain disruptions, debt and natural disasters.
The G20 finance ministers have met several times since the beginning of the year, but have been unable to agree on a joint statement at previous summits.
“Central banks are strongly committed to ensuring price stability, consistent with their respective mandates, and will continue to adjust their policies in a data-dependent manner,” the grouping said in Friday’s joint declaration, their first communique since October.
“Central bank independence is crucial to achieving this goal,” read the statement, which was also signed by the US.
Al Jazeera 18 July 2025
G20 agenda eclipsed as Bessent skips South Africa meeting again
For the second time this year, the world’s most powerful finance ministers gather in South Africa without the presence of the US Treasury Secretary.
Scott Bessent will skip the Group of 20 again this week, continuing a boycott of South Africa by top US officials begun by Secretary of State Marco Rubio, who stayed away out of scorn over his hosts’ theme for its G20 presidency of “Solidarity, Equality and Sustainability.”
South Africa is the first nation from the continent to host the G20. But its ambition to use that to advance issues vital for developing nations is likely to be further sidelined as the club confronts the latest salvo in US President Donald Trump’s trade war.
“The challenge around the G20 is that you just don’t know what is going to come out of the White House,” said Sanusha Naidu, senior research fellow at the Pretoria-based Institute for Global Dialogue. “There is an actor in the international system who is playing such a disruptive role for the order of global international governance.”
Policy.org 14 July 2025
FACTBOX-Issues on the agenda at the G20 finance meeting in South Africa
Group of 20 finance officials meet in South Africa from Thursday amid trade tensions, a global economic slowdown and Washington’s threat to withdraw from multilateral organisations. President Cyril Ramaphosa has sought to leverage Africa’s first G20 presidency to promote an African agenda, with topics including the high cost of capital and climate change.
Here are the key issues to be discussed:
DEBT STRESS
Nearly two dozen countries in Africa are already in or at high risk of debt distress, the International Monetary Fund said. Debt-servicing costs crowd out spending on services like infrastructure development, health and education.
Launched in late 2020, the G20 Common Framework is a platform aimed at speeding up and simplifying the process of getting overstretched countries back on their feet. But progress has been slow.
Making the platform more efficient is one target for South Africa. Ramaphosa launched an Africa Expert Panel in March whose role is to galvanise efforts, chief among them debt relief.
Panel chair Trevor Manuel told Reuters it had already begun to make detailed recommendations on improving the framework.
“One of the reforms is that the opportunities in the Common Framework should be available to all middle-income countries as well,” said Manuel.
FINANCING FOR DEVELOPMENT
With aid and development-finance cuts and a pivot by wealthy countries to defence spending, traditional funding sources for developing nations have become scarcer. South Africa is looking to shore up favourable finance for poorer nations.
It wants to strengthen and improve the role of multilateral development banks in financing for development. Washington, meanwhile, could potentially withdraw from more global institutions – including these banks.
Some analysts believe Washington’s withdrawal from multilateralism could leave a space for China to occupy, but it is unclear if Beijing aims to do that.
Reuters 18 July 2025
Good morning, esteemed colleagues, Ministers, Governors, distinguished delegates, and representatives of international organisations.
It is my honour and privilege to welcome you all to the 3rd G20 Finance Ministers and Central Bank Governors (FMCBG) meeting and the last FMCBG meeting in South Africa under South Africa’s 2025 G20 Presidency.
We gather here in the beautiful province of KwaZulu-Natal, a region rich in natural splendour and cultural heritage, and, I believe, a fitting setting to reflect on both the complexity and the promise of our shared global agenda.
This province had the distinct honour and privilege of having been the home of Mahatma Gandhi for a large part of his stay in South Africa, which spanned 21 years, namely from 1893 to 1914. Mahatma Gandhi had a profound and multifaceted impact on India and South Africa, and many drew inspiration from him across the globe, including Nelson Mandela in his quest to lead South Africa to independence.
As leaders, there is a great deal that, as a collective, we can learn from both Gandhi and Mandela, who have often been revered as the Fathers of their Nations, as we reflect on both the complexity and the promise of our shared global agenda.
Let me extend our deepest appreciation to all delegations, especially those who have travelled from afar, for your continued commitment to this important global forum.
I would also like to thank our international partners for their sustained engagement and valuable technical support throughout our deliberations.
Colleagues, we meet at a time of fragile global economic growth. While inflation is gradually moderating and financial conditions have started to stabilise in some regions, uncertainty continues to weigh heavily on global growth prospects. Rising trade barriers, persistent global imbalances and new geopolitical risks are significant concerns.
Polity.org 17 July 2025
Minister Lamola urges G20 to end exploitation of Africa’s mineral wealth
Minister of International Relations and Cooperation, Ronald Lamola, has called for a fairer, more equitable global order and an end to exploitative resource extraction practices that disadvantage Africa, stating that the G20 must drive transformational diplomacy, global peace, and sustainable development.
Speaking at the G20 Sherpa Meeting hosted in Sun City, North West Province, Lamola warned that the global economy is under increasing strain from geopolitical tensions, economic nationalism, and climate-induced disasters.
He urged the G20 to be bold in reforming multilateral institutions and ensuring equitable participation for developing nations.
“This is not just economics; it is Solidarity, Equality and Sustainability – the theme of our Presidency,” said Lamola.
“The G20 is a platform that can ensure: the era of extraction without equity ends, and we begin an era of true partnership and collaboration for the good of sustainable development across countries.”
Lamola reminded delegates that South Africa’s international outlook is rooted in its liberation struggle, referencing the 1955 Freedom Charter, which declared: “There shall be peace and friendship!”
“The Freedom Charter became the foundational document of our Constitution. It informs our constitutional and international outlook, it has a 70-year-old foundation; it will never change,” he said.
IOL 10 July 2025