Despite tensions over U.S. tariffs and key absences, G20 finance chiefs voiced cautious optimism for a unified stance on trade and global challenges at their meeting in South Africa.
Finance leaders from G20 nations expressed hope on Friday that they could reach a consensus on global trade and pressing economic issues, despite the divisive impact of U.S. President Donald Trump's tariff policies.
This comes after the group failed to produce a joint declaration during their last gathering in February.
The current summit, hosted in the coastal city of Durban, takes place under South Africa’s presidency, with the motto 'Solidarity, Equality, Sustainability.' It aims to spotlight Africa’s priorities, including the high cost of capital and funding for climate action.
Canadian Finance Minister Francois-Philippe Champagne told Reuters he was cautiously optimistic about a positive outcome. A similar sentiment was echoed by other officials, though many key players—such as finance ministers from the U.S., Brazil, China, and Russia—did not attend.
U.S. Treasury Secretary Scott Bessent was notably absent, even as the U.S. prepares to take over the G20 presidency in December. Still, American officials remained engaged behind the scenes, particularly on trade and climate finance—areas complicated by differing national interests.
South African Finance Minister Enoch Godongwana emphasized the importance of multilateral cooperation, calling for bold leadership to tackle global crises.
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A 77-year-old man and a 63-year-old woman were killed on Monday (4 May), after a man drove a car into a crowd on a pedestrianised street in the the eastern German city of Leipzig, authorities said.
At a time when geopolitical tensions continue to ripple across multiple regions, from Ukraine to the Middle East, the South Caucasus once again finds itself at the crossroads of diplomacy and uncertainty.
Austria has expelled three diplomats from the Russian Embassy over concerns that satellite installations on diplomatic buildings could be used for espionage.
A Russian missile strike killed six people in Ukraine’s Kharkiv region on Monday (4 May), as Kyiv reported fresh attacks on energy infrastructure and a sharp rise in drone strikes on ports.
A 77-year-old man and a 63-year-old woman were killed on Monday (4 May), after a man drove a car into a crowd on a pedestrianised street in the the eastern German city of Leipzig, authorities said.
Iran warned Armerican forces on Monday (4 May) not to enter the Strait of Hormuz, after the U.S. said it had launched a mission to try and reopen the sea passage. Meanwhile, Iran's Foreign Minister said there was no military solution to the Middle East conflict.
China has moved to block U.S. sanctions on five of its oil refineries, in a fresh escalation of tensions over trade and energy policy.
U.S. President Donald Trump has said he will “soon be reviewing” a new 14-point proposal sent by Iran, casting doubt on the chances of a deal after Tehran called for security guarantees, an end to naval blockades and a halt to the war across the region, including in Lebanon.
Ukraine has launched a new wave of drone strikes on Sunday (3 May) across Russia, hitting key infrastructure and causing casualties in several regions, officials on both sides said.
A 77-year-old man and a 63-year-old woman were killed on Monday (4 May), after a man drove a car into a crowd on a pedestrianised street in the the eastern German city of Leipzig, authorities said.
Austria has expelled three diplomats from the Russian Embassy over concerns that satellite installations on diplomatic buildings could be used for espionage.
A Russian missile strike killed six people in Ukraine’s Kharkiv region on Monday (4 May), as Kyiv reported fresh attacks on energy infrastructure and a sharp rise in drone strikes on ports.
Australia and Japan agreed on Monday to deepen cooperation on energy and critical minerals, as Japan’s Prime Minister Sanae Takaichi met her Australian counterpart Anthony Albanese during a three-day visit.
Australia began public hearings on Monday in an inquiry into the Bondi Beach mass shooting in December, with Jewish Australians giving evidence about their experiences of rising domestic antisemitism.
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