G20 finmin meeting ends with first communique agreement under SA's presidency

JOHANNESBURG - The third G20 Finance Ministers and Central Bank Governors Meeting has wrapped up, with a communique finally agreed on.

The six-page document is the first under South Africa's G20 presidency.

The diplomatic bloc failed to agree on a formal communique at the February meeting in Cape Town, with some pushback from the US on climate financing.

This week’s deliberations in KwaZulu-Natal saw member states stuck on sustainable financing before finding consensus with each other on a range of common global challenges.

SA Reserve Bank Governor Lesetja Kganyago, Finance Minister Enoch Godongwana and Deputy Finance Minister David Masondo briefed the media on some of the outcomes of the meeting on Friday afternoon.

Despite taking place under the cloud of Donald Trump’s tariff wars and growing geopolitical tensions, Masondo said that the fiscal and monetary policy heads all came to the table.

"The meeting delivered productive and constructive discussions on Africa, the global economic outlook and macroeconomic stability, the international financial architecture, sustainable finance, global health, infrastructure, tax, financial sector issues and financial inclusion."