Overview

• The G20 finance ministers and central bankers' meeting in Cape Town concluded without a joint communique, reflecting deep divisions among members.
• Major absences, including officials from the United States, China, India, and Japan, hindered progress on critical issues like climate finance and trade policies.
• A 'chair's summary' reaffirmed commitments to resisting protectionism and supporting a rules-based multilateral trading system but failed to unify members on actionable steps.
• South Africa, as the G20 host, expressed frustration over the lack of consensus, emphasizing the need for greater support for developing nations' green energy transitions.
• The meeting highlighted ongoing geopolitical tensions, including disputes over trade, the Ukraine conflict, and funding cuts from major economies like the U.S. and Britain.