South African President Cyril Ramaphosa has outlined his administration’s priorities for the upcoming G20 Summit, to be held under the theme “Solidarity, Equality and Sustainability.”
Speaking at a preparatory briefing, Ramaphosa revealed that over 100 preparatory meetings have already taken place since South Africa assumed the G20 Presidency from Brazil. He emphasized that this year’s Summit will focus on addressing the unsustainable debt burdens faced by developing economies, particularly those in Africa.
Tackling Global Debt Inequality
President Ramaphosa described the debt challenges of developing nations as a major barrier to global equality, stressing that the existing system disproportionately penalizes poorer countries.
“It is simply unacceptable that many developing economy countries pay much more for their debt than what more developed economy countries pay. This unfair treatment perpetuates inequality not only between individuals, but amongst countries as well,” he said.
To tackle this, the President announced the creation of the G20 Extraordinary Committee of Independent Experts on Global Wealth Inequality, chaired by Nobel Laureate Professor Joseph Stiglitz. The committee will present concrete recommendations to address global inequality during the Summit.
Call for Reform and Fair Climate Financing
President Ramaphosa also renewed South Africa’s call for reform of international financial institutions, arguing that multilateral development banks (MDBs) must be better equipped to respond to today’s global challenges — from debt relief to climate change.
He condemned predatory mining practices and urged fairer management of critical minerals, emphasizing the need for stronger climate financing to help developing nations cope with environmental and economic shocks.
“We must build consensus on the reform of international financial institutions to better tackle global challenges. Greater support needs to be given to developing countries through climate financing and reconstruction in the aftermath of extreme weather events,” Ramaphosa said.
Strengthening Global Partnerships
Concluding his remarks, Ramaphosa reaffirmed South Africa’s commitment to working closely with the European Union and other G20 partners to turn shared ambitions into tangible outcomes that benefit citizens across continents.
“Together, we can foster inclusive growth, build resilience and create a sustainable and secure future for all our people,” he said.
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