South African rand edges up
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Indonesia welcomes efforts to strengthen economic cooperation at the 4th G20 Meeting of Finance Ministers and Central Bank Governors, held in South Africa
The United States, planning to take the G20 presidency, aims to focus on financial stability and reduce other working group priorities. This pared-down approach aligns with the Trump administration's 'America First' agenda and skepticism toward multilateral institutions,
South Africa urged G20 countries to provide 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.
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AllAfrica on MSNSouth Africa: Call to Address Widening Insurance Protection GapWith the surge in natural disasters in the last decade, the Governor of the South African Reserve Bank (SARB), Lesetja Kganyago, has called on leaders in the Group of Twenty (G20) to bridge the gap in the natural catastrophe insurance protection gap.
While the relationship between South Africa and China has mutually benefited both nations through increased trade and investment, Deputy President Paul Mashatile has acknowledged a persistent trade deficit that favours China.
This is not only a strategic investment — it is one that can boost growth, create business opportunities, and reduce pressure on public budgets in key member states,” said Klingbeil.
G20 chair South Africa warned Thursday that abandoning the rules-based global order and declining cooperation could derail 2030 development goals to end hunger, eradicate extreme poverty and fight climate change.
"The G20 was built around a presumption that all the world's major economies shared a common interest in a stable, relatively open global economy," said Brad Setser of the Council on Foreign Relations. "But Trump doesn't really care about stability and wants a more closed global economy."