Issues on the agenda at the G20 finance meeting in South Africa
A drone view shows the beach front ahead of the G20 finance meeting in Durban, South Africa, July 15, 2025. REUTERS/Rogan Ward
JOHANNESBURG - 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.
Top stories
Swipe. Select. Stay informed.
Singapore July BTO launch to have over 4,600 balance flats, 2 BTO projects with under than 3-year wait
Singapore Acute psychiatry services to be expanded across all healthcare clusters: MOH
Singapore 'Kpods broke our marriage, shattered our children': Woman on husband's vape addiction
Singapore Asia-Pacific will need over 230k new pilots, 250k aircraft maintenance technicians by 2042: ICAO chief
Business Tycoon Robert Kuok's daughter Kuok Hui Kwong appointed CEO of Shangri-La Asia
Singapore Alleged Toa Payoh cat killer and abuser handed new charge of torturing sixth cat
Life Walking for exercise? Here are tips on how to do it properly
Multimedia Telling the Singapore story for 180 years
"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.
Lending to Africa from China has slowed to a trickle leaving an $80 billion financing gap. Meanwhile, U.S. and European grants - accounting for 25% of the region's external financing - face cuts as Washington suspends foreign aid and European capitals redirect funds toward defence.
JUST ENERGY TRANSITION
President Donald Trump's administration has withdrawn from the Just Energy Transition Partnership (JETP) - a key focus for South Africa that is designed to help developing countries transition away from coal to cleaner energy.
Launched in 2021, JETPs aim to funnel money from governments, multilateral lenders and the private sector to renewable energy projects in a way that benefits local communities.
On Monday, the G20's financial stability watchdog said it had developed a new plan to tackle climate risks but it had paused further policy work in light of the U.S. retreat from climate action.
Mobilising funding for climate disasters affecting the Global South was a key agenda item for South Africa's presidency.
TRADE
Trump's tariff threats have disrupted the global economy and the response will dominate the agenda even as U.S. Treasury Secretary Scott Bessent skips the gathering.
U.S. plans for tariffs on Canada, Europe and Mexico as well as threats to impose further levies on BRICS member countries including China, India, Russia, Brazil and G20 host South Africa, further heighten tensions between the world's largest economy and other G20 nations.
COMMUNIQUE
Director General of Treasury Duncan Pieterse said in a statement on Monday that he hoped to issue the first Communique under the South African G20 presidency at the end of the meetings. The G20 was last able to take a mutually agreed stance to issue a Communique in July of 2024. REUTERS
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
22 minutes ago
- Straits Times
Obama reiterates conclusion of attempted Russian interference in 2016 election
FILE PHOTO: Former U.S. President Barack Obama attends the 60th Presidential Inauguration in the Rotunda of the U.S. Capitol in Washington, Monday, Jan. 20, 2025. Julia Demaree Nikhinson/Pool via REUTERS/File Photo WASHINGTON - The office of U.S. Democratic former President Barack Obama said on Tuesday that a document issued last week by the Office of the Director of National Intelligence does not undercut the conclusion that Russia tried to influence the 2016 U.S. election but that it did not manipulate any votes. "Nothing in the document issued last week undercuts the widely accepted conclusion that Russia worked to influence the 2016 presidential election but did not successfully manipulate any votes," Obama's office said in a statement. President Donald Trump accused Obama of "treason" on Tuesday, blaming him, without providing evidence, for leading an effort to falsely tie him to Russia and undermine his 2016 presidential campaign. "These bizarre allegations are ridiculous and a weak attempt at distraction," Obama's office said. REUTERS
Straits Times
an hour ago
- Straits Times
Greek police arrest Moldovan tycoon Plahotniuc on Interpol notice
FILE PHOTO: Leader of the Democratic Party of Moldova Vladimir Plahotniuc delivers a speech during a rally demanding a creation of parliament coalition, in Chisinau, Moldova June 9, 2019. REUTERS/Valentyn Ogirenko/File Photo ATHENS - Greek police have arrested a Moldovan tycoon and a former political leader wanted for allegedly participating in a criminal organisation, money laundering and fraud, police said on Tuesday. Vladimir Plahotniuc, considered one of Moldova's richest men and a former lawmaker, was arrested at the Athens airport on an Interpol notice on Monday evening. He has been accused in connection with a $1 billion fraud against Moldovan banks in 2014-2015, a case known locally as the "theft of the century". He has denied wrongdoing. Police also arrested former Moldovan lawmaker Constantin Tutu, 38, who is wanted by Russia for allegedly trafficking drugs internationally, police officials said. Both suspects had an Interpol red notice issued against them. Moldova's General Inspectorate of Police confirmed that Plahotniuc, who was the leader of the Democratic party from 2016-2019, and Tutu had been arrested. Plahotniuc, 59, is suspected to have fled Moldova in 2019. Following a tip-off, Greek police launched an investigation which found that Plahotniuc was living with his partner in a luxurious villa in the southern suburbs of Athens. Tutu also lived in the same residence, the officials said, speaking on condition of anonymity due to the confidentiality of the probe. In 2023, the European Union imposed sanctions on seven people from Moldova, including Plahotniuc, for actions that it said destabilised and undermined the territorial integrity of Moldova and neighbouring Ukraine. Since 2023, Plahotniuc has lived in 22 countries, changing residence regularly to avoid detection, the Greek police officials said. Top stories Swipe. Select. Stay informed. Singapore Two found dead after fire in Toa Payoh flat Singapore Singaporeans aged 21 to 59 can claim $600 SG60 vouchers from July 22 Singapore Singaporeans continue to hold world's most powerful passport in latest ranking Singapore Singapore, Vietnam agree to step up defence ties, dialogue between leaders Asia Malaysia govt's reform pledge tested as DAP chief bows over unresolved 2009 death of political aide Tech Singapore to increase pool of early adopters in AI to complement data scientists, engineers Singapore Prosecution says judge who acquitted duo of bribing ex-LTA official had copied defence arguments Singapore Ports and planes: The 2 Singapore firms helping to keep the world moving The two men, carrying only backpacks, were arrested at the Athens airport after boarding a flight to Dubai. They will appear before a prosecutor on Wednesday to respond to charges. Moldova is expected to request his extradition, the country's General Prosecutor's office said. REUTERS
Straits Times
an hour ago
- Straits Times
US envoy urges Syria's Sharaa to revise policy or risk fragmentation
U.S. Ambassador to Turkey and U.S. special envoy for Syria Thomas Barrack speaks after meeting with Lebanese Prime Minister Nawaf Salam, in Beirut, Lebanon July 21, 2025. REUTERS/Mohamed Azakir/File Photo BEIRUT - A U.S. envoy has urged Syrian President Ahmed al-Sharaa to recalibrate his policies and embrace a more inclusive approach after a new round of sectarian bloodshed last week, or risk losing international support and fragmenting the country. U.S. envoy to Syria Thomas Barrack said he had advised Sharaa in private discussions to revisit elements of the pre-war army structure, scale back Islamist indoctrination and seek regional security assistance. In an interview in Beirut, Barrack told Reuters that without swift change, Sharaa risks losing the momentum that once propelled him to power. Sharaa should say: "I'm going to adapt quickly, because if I don't adapt quickly, I'm going to lose the energy of the universe that was behind me," Barrack said. He said Sharaa could "grow up as a president and say, 'the right thing for me to do is not to follow my theme, which isn't working so well.'" Sharaa, leader of a former Al Qaeda offshoot, came to power in Syria after guerilla fighters he led brought down President Bashar al-Assad in December last year after more than 13 years of civil war. Though his own fighters have roots in Sunni Muslim militancy, Sharaa has promised to protect members of Syria's many sectarian minorities. But that pledge has been challenged, first by mass killings of members of Assad's Alawite sect in March, and now by the latest violence in the southwest. Hundreds of people have been reported killed in clashes in the southern province of Sweida between Druze fighters, Sunni Bedouin tribes and Sharaa's own forces. Israel intervened with airstrikes to prevent what it said was mass killing of Druze by government forces. Top stories Swipe. Select. Stay informed. Singapore Two found dead after fire in Toa Payoh flat Singapore Singaporeans aged 21 to 59 can claim $600 SG60 vouchers from July 22 Singapore Singaporeans continue to hold world's most powerful passport in latest ranking Singapore Singapore, Vietnam agree to step up defence ties, dialogue between leaders Asia Malaysia govt's reform pledge tested as DAP chief bows over unresolved 2009 death of political aide Tech Singapore to increase pool of early adopters in AI to complement data scientists, engineers Singapore Prosecution says judge who acquitted duo of bribing ex-LTA official had copied defence arguments Singapore Ports and planes: The 2 Singapore firms helping to keep the world moving Barrack said the new government should consider being "more inclusive quicker" when it comes to integrating minorities into the ruling structure. But he also pushed back against reports that Syrian security forces were responsible for violations against Druze civilians. He suggested that Islamic State group militants may have been disguised in government uniforms and that social media videos are easily doctored and therefore unreliable. "The Syrian troops haven't gone into the city. These atrocities that are happening are not happening by the Syrian regime troops. They're not even in the city because they agreed with Israel that they would not go in," he said. 'NO SUCCESSOR' TO SHARAA The U.S. helped broker a ceasefire last week that brought an end to the fighting, which erupted between Bedouin tribal fighters and Druze factions on July 13. Barrack said the stakes in Syria are dangerously high, with no succession plan or viable alternative to the country's new Islamist government. "With this Syrian regime, there is no plan B. If this Syrian regime fails, somebody is trying to instigate it to fail," Barrack said. "For what purpose? There's no successor." Asked if Syria could follow the dire scenarios of Libya and Afghanistan, he said: "Yes, or even worse." The U.S. has said it did not support Israel's airstrikes on Syria. Barrack said the strikes had added to the "confusion" in Syria. Israel says Syria's new rulers are dangerous militants, and has vowed to keep government troops out of the southwest and protect Syria's Druze minority in the area, encouraged by calls from Israel's own Druze community. Barrack said his message to Israel is to have dialogue to alleviate their concerns about Syria's new Sunni leaders and that the U.S. could play the role of an "honest intermediary" to help resolve any concerns. He said Sharaa had signaled from the beginning of his rule that Israel was not his enemy and that he could normalise ties in due time. He said the United States was not dictating what the political format of Syria should be, other than stability, unity, fairness and inclusion. "If they end up with a federalist government, that's their determination. And the answer to the question is, everybody may now need to adapt." REUTERS
