SARB deputy governor warns of rising protectionism at G20 meeting
"There are concerns about whether some countries are adopting more protectionist policies than others. The key is to create an environment that allows for open dialogue on trade matters," Cassim said during the fourth G20 Finance and Central Bank Deputies Meeting held in Durban.
The July G20 Finance Track meetings kicked off on Monday in Zimbali, KwaZulu-Natal, with the two-day Finance and Central Bank Deputies Meeting being the first session.
According to Cassim, the G20 Finance Track meetings would address a range of pressing global matters, with a key challenge being the identification of the sources of imbalances in the global economy.
"Speaking as a central banker, uncertainty has terrible effects. It fuels inflationary concerns. At this stage, however, it is the country imposing the tariffs that must contend with inflation, rather than those on the receiving end," he added.
Following the fourth G20 Finance and Central Bank Deputies meeting from Monday to Tuesday, the Finance Ministers and Central Bank Governors gathering will be held from Thursday to Friday.
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