The Governor of the South African Reserve Bank, Lesetja Kganyago, used a keynote address at the Brookings Institution to argue that the Group of Twenty’s effectiveness is being undermined by overloaded agendas and weak processes, particularly outside crisis periods. With South Africa holding the G20 presidency, he called for more intentional agenda-setting focused on a small number of top priorities and for clearer, more solution-oriented communication. He highlighted that G20 meetings have grown well beyond a size conducive to decision-making, citing 52 countries and institutions participating in a recent Finance Ministers and Central Bank Governors meeting, which can limit robust debate and spontaneous engagement. The address linked agenda overload to the annual rotation of presidencies, which tends to add new issues without removing others, and proposed narrowing discussions to two or three priorities, producing shorter and plainer statements, and separating G20 tracks more distinctly so Finance Track principals can help define the agenda. Possible structural reforms included rethinking the Finance Track’s working group architecture and exploring a permanent secretariat to improve continuity, while noting practical obstacles and expressing only tentative support for track-level secretariats.
South African Reserve Bank 2025-04-22
South African Reserve Bank governor urges the G20 to narrow priorities and streamline Finance Track processes
South African Reserve Bank Governor Lesetja Kganyago, at the Brookings Institution, criticized the G20 for ineffective agenda management and weak processes, especially outside crisis periods. With South Africa presiding over the G20, he advocated for focused agenda-setting on top priorities and clearer communication. Kganyago suggested structural reforms, including rethinking the Finance Track's working group architecture and considering a permanent secretariat for continuity.