G20 Experts Call for International Inequality Panel Amid Growing Wealth Gap

Under South Africa's 2025 G20 presidency, President Cyril Ramaphosa appointed an Extraordinary Committee of Independent Experts on Global Inequality, chaired by Nobel laureate Joseph Stiglitz, to address the escalating global wealth gap. The committee's landmark report reveals that from 2000 to 2024, the richest 1% captured 41% of all new wealth while the poorest 50% received just 1%, contributing to heightened economic instability and democratic decline in 83% of countries. The experts propose establishing an International Panel on Inequality modeled after the Intergovernmental Panel on Climate Change (IPCC) to monitor inequality trends, assess causes and consequences, and guide global policymaking. The report highlights how crises like the COVID-19 pandemic, the war in Ukraine, and trade tensions have exacerbated poverty and hunger, with one in four people regularly skipping meals and billionaire wealth reaching record highs. The panel aims to provide evidence-based recommendations to promote economic resilience, inclusive development, and social justice worldwide. This initiative is slated to be a lasting legacy of South Africa’s G20 presidency and will be presented at the Johannesburg summit in November, ahead of the U.S. assuming the G20 presidency.