G20 finance ministers, central bankers to meet amid fractious geopolitics

26/2/2025 13:13

Finance ministers and central bankers from the G20 top economies gather in South Africa on Wednesday and Thursday, for a meeting marred by the absence or curtailed attendance of key members and disputes over the main issues of climate, debt and inequality.



Agreeing on a declaration has always been tough for a gathering that includes rivals China, Russia, the European Union and the United States, but differences are starker than ever, and some finance ministers were too consumed with domestic politics to show up.



Japan's Finance Minister Katsunobu Kato will not attend, as he focuses on a parliamentary debate. U.S. Treasury Secretary Scott Bessent is also skipping it, as is EU economy commissioner Valdis Dombrovskis.



There seemed little hope of agreement on issues host President Cyril Ramaphosa sees as core: inadequate climate finance from rich nations, reform of a financial system that penalises poor countries and widening inequalities.