G20 Meets in South Africa Amid Debt, Trade Strains

The G20 Finance Ministers and Central Bank Governors are meeting in South Africa to address escalating global economic uncertainty, with a focus on rising debt distress in developing nations and the impact of US tariffs. South African President Cyril Ramaphosa is using the G20 presidency to highlight Africa’s development priorities, including debt relief and making financing more accessible to middle-income countries. Under President Trump, the US is intensifying trade tensions and distancing itself diplomatically from South Africa, heightening concerns about further economic strain and divisions among G20 members. The meetings are also addressing reforms to international frameworks like the G20 Common Framework, as well as strengthening multilateral institutions to confront crises such as inflation, geopolitical conflicts, and climate change. Australian and South African officials are urging increased collaboration and leadership to navigate these challenges. Despite ongoing differences, especially between the US, China, and Russia, the G20 aims to maintain unity to stabilize the global economy.