Overview

• South Africa's President Cyril Ramaphosa opened the G20 finance meeting by warning that the erosion of multilateralism threatens global growth and stability.
• The absence of key figures, including the U.S. Treasury Secretary and representatives from Brazil, China, and Japan, highlighted fractures within the group.
• Ramaphosa emphasized the need for international cooperation to address climate change, rising debt burdens, and inequality, particularly in poorer nations disproportionately affected by natural disasters.
• The U.S. absence, attributed to tensions over South Africa's ties to Russia and China and domestic criticisms of its land reform policies, raised questions about the G20's relevance.
• Some analysts see an opportunity for South Africa to assert leadership on global issues like climate finance and debt reform, despite the lack of consensus among member nations.