G20 summit in Cape Town: No consensus despite the work program!

G20 summit in Cape Town: No consensus despite the work program!

Kapstadt, Südafrika - The G20 meeting of the finance ministers, which took place in the picturesque backdrop of Cape Stadt, ended without the usual joint declaration. The United States continued to be reluctant and refused to consent to many topics under the leadership of President Donald Trump, which prevented a uniform assessment. According to reports from the German Press Agency, the USA has not related a clear positions of the diverse concerns of the G20 since Trump's takeover, which means that the meeting faced significant challenges. Instead of a final declaration, the host South Africa only published a summary of the discussions that reflected the disagreement of the participants.

Enoch Godongwana, the finance minister of South Africa, was disappointed with the lack of agreement, but was optimistic about a work program that is to be pursued until the coming G20 summit in November. This work program was finally accepted by all participants. The absence of several important business powers at the ministerial level was striking; The US Finance Minister Scott Bessent failed to participate for "commitments in Washington DC". The finance ministers from China, Japan, India and Canada remained similar. In the previous year, the G20 Minister of Finance had also been unable to find a common position due to tensions in relation to the Ukraine War, which underlines the recurring difficulties within the group, as oe24.at and Investment Week report.