G20 Meetings

The Group of 20 summit in South Africa ended Sunday with the glaring absence of the United States — the next country to lead the bloc — after the Trump administration boycotted the two days of talks involving leaders of the world’s richest and top developing economies. South African President Cyril Ramaphosa declared the summit in Johannesburg closed by banging a wooden gavel on a block like a judge would, in a G20 tradition. The gavel would normally be handed over to the leader of the next country to hold the rotating presidency, ...

A Group of 20 leaders’ summit in South Africa adopted a declaration addressing the climate crisis and other global challenges on Saturday, after it was drafted without U.S. input, a move a White House official called “shameful.” The declaration, using language to which Washington has been opposed, “can’t be renegotiated,” South African President Cyril Ramaphosa’s spokesperson told reporters, reflecting strains between Pretoria and the Trump administration over the event. “We had the entire year of working towards this adoption and ...

Finance chiefs from the Group of 20 countries stressed the importance of central bank independence in a communique issued on Friday following a two-day meeting in South Africa’s coastal city of Durban. The ministers and central bankers pledged to boost cooperation as they sealed their first communique since October 2024, a month before President Donald Trump’s election victory and subsequent tariff war. The issue of central bank independence hung heavily over the meeting following Trump’s repeated berating of U.S. Federal Reserve ...

The International Monetary Fund warned on Friday that risks related to trade tensions continue to cloud the global economic outlook and uncertainty remains high despite some increased trade and improved financial conditions. IMF First Deputy Managing Director Gita Gopinath said the fund would update its global forecast later in July given "front-loading ahead of tariff increases and some trade diversion," along with improved financial conditions and signs of continued declines in inflation. In April the IMF slashed its growth ...

The Group of 20 finance ministers are meeting at a resort on South Africa's east coast this week. President Cyril Ramaphosa has ambitions of getting the group to agree on the need to prioritize debt relief, climate finance and the reform of international financial institutions, but attention is firmly focused on limiting the fallout of a global trade war. Bloomberg's Jennifer Zabasajja reports. -

South Africa urged G20 countries to show global and cooperative leadership to tackle challenges including rising trade barriers, as the club’s finance chiefs met on Thursday under the shadow of President Donald Trump’s tariff threats. The G20, which emerged as a forum for cooperation to combat the 2008 global financial crisis, has for years been hobbled by disputes among key players that have been exacerbated by Russia’s war in Ukraine and Western sanctions on Moscow. Host South Africa, under its presidency’s motto “Solidarity, ...

The Group of 20 finance ministers are meeting at a resort on South Africa's east coast this week. President Cyril Ramaphosa has ambitions of getting the group to agree on the need to prioritize debt relief, climate finance and the reform of international financial institutions, but attention is firmly focused on limiting the fallout of a global trade war. Bloomberg's Jennifer Zabasajja reports. -