South Africa welcomed G20 finance ministers to Durban today, marking a key milestone as the first African nation to host the summit. Leaders are tackling pressing global issues, including rising inflation, debt relief for developing economies, and climate finance mechanisms. South African President Cyril Ramaphosa called for equitable growth and warned of protectionist trade policies. The gathering has drawn representatives from the IMF, World Bank, and key donor nations. It also highlights South Africa’s growing role in shaping global economic policy.
Markets across Africa are closely watching the summit, especially with new U.S. tariffs looming. Economists expect the meeting to influence currency movements and future lending conditions for African states. Germany has already pledged €10 million to a World Bank trust fund aiding African reforms. Climate-focused funding packages are also under discussion, targeting clean energy transitions. The outcomes could have a lasting effect on fiscal planning across the continent.
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