Concerns about global uncertainty weigh heavy on minds of fiscal, monetary policy leader
Finance ministers and central bank governors are gathered at the G20 finance track meeting in KwaZulu-Natal on Thursday.
It comes after a series of meetings with the deputies wrapped up on Wednesday.
This is the final finance track meeting in the country before the leaders' summit in November.
Minister of Finance Enoch Godongwana opened the meeting in no uncertain terms about the complexities of the current global financial landscape.
'We meet at a time of fragile 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 certainly concerns.'
South African Reserve Bank (SARB) Governor Lesetja Kganyago said the continued pressure could push decision makers into a tighter corner.
'Inflation remains higher than desired and persistent. Central banks have to navigate what uncertainty means for the price and financial stability mandates. I'm hopeful that our discussions here today will shed more light on our challenges.'
Some policymakers believe part of the solution is lowering tensions and international trade barriers, and the prevention of further global fragmentation to help boost economic growth.
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