Cape Town, South Africa :: February 24, 2025 Bessent also skipped the previous G20 finance chiefs’ gathering in Cape Town in February. The communique recognized the importance of the World Trade Organization, while adding the body needed reform.

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.

U.S. Treasury Secretary Scott Bessent did not attend the two-day meeting in the port city of Durban, continuing a string of snubs by Trump administration officials.

G20 finance leaders highlighted the importance of central bank independence in a joint statement after a meeting in South Africa. The communique addressed global economic uncertainties including trade tensions and extreme weather events,

South Africa should join others at the G20 to support universal social protection systems, and not means-tested systems that base eligibility for support on income, ...

DURBAN (Reuters) -G20 finance chiefs agreed a communique on Friday that underscored the importance of central bank independence and the role of the World Trade Organisation in advancing trade issues.

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.