The South African Reserve Bank and National Treasury issued a joint statement on the second meeting of the G20 Finance Ministers and Central Bank Governors, held on 23–24 April 2025 in Washington, DC on the sidelines of the IMF and World Bank Spring Meetings. The update summarises discussions and agreed follow-up work on global macroeconomic and financial stability, the international financial architecture, and Africa-specific priorities. Participants reviewed international trade developments and related risks, including increased uncertainty, slower growth, reduced investment, declining fiscal space, rising debt levels and financial turbulence, and discussed reaffirming multilateralism and a rules-based global trading system. On the international financial architecture, the G20 focused on advancing a Monitoring and Reporting Framework to track implementation of the G20 Roadmap for bigger, better and more effective Multilateral Development Banks, including developing clear and measurable monitoring indicators, and supported initiatives to promote blended finance and private capital mobilisation. The group also agreed to strengthen multilateral cooperation on debt vulnerabilities and liquidity challenges, promote augmented debt transparency, and approved a process to improve the Common Framework informed by lessons from its first cases, alongside support for the Global Sovereign Debt Roundtable and the International Monetary Fund and World Bank debt restructuring playbook. For Africa, members endorsed a Presidency work programme to develop tailored policy solutions addressing impediments to growth and development, including institutions, macroeconomic vulnerabilities, infrastructure development and the cost of capital. The meeting committed to facilitate dialogue among G20 members ahead of the next Finance Ministers and Central Bank Governors meeting in July 2025, scheduled to take place in Durban, South Africa, and noted South Africa will host the G20 Leaders’ Summit later in 2025.
South African Reserve Bank 2025-04-24
South African Reserve Bank and National Treasury conclude G20 finance ministers meeting with plans to improve the Common Framework and monitor MDB reform
The South African Reserve Bank and National Treasury issued a joint statement on the G20 Finance Ministers and Central Bank Governors meeting, highlighting discussions on global macroeconomic stability, international financial architecture, and Africa-specific priorities. Key outcomes include advancing a Monitoring and Reporting Framework for Multilateral Development Banks, strengthening cooperation on debt vulnerabilities, and endorsing a work programme for Africa's growth. The meeting also committed to facilitating dialogue ahead of the next G20 meeting in July 2025 in Durban, South Africa.