Africa to Push for New International Financial Architecture at Upcoming G20 Summit 2025 in South Africa

During its presidency of #G20 in 2025, South Africa has set four priority actions: (a) Mobilize finance for a Just Energy Transition (#JET), (b) Ensure debt sustainability for low-income countries, (c) Strengthen disaster response and resilience, and (d) Harness #CriticalMinerals for sustainable development and inclusive growth. At the same time, South Africa has set up three task forces to promote #industrialization, #FoodSecurity, and #AI.

With a deep-rooted legacy in Finance, the G20 has seven technical groups, as well as another three Task Forces, under the Finance Track. The key issue appears to be the reform of the International Financial Architecture with better financial inclusion and fairer international taxation. Sustainable Finance is another hot topic which will nicely overlap into #COP30 in Brazil.

Finally, the Sherpa Tracks covers a wide array of themes with 15 Working Groups covering Digitalization, Health, Energy Transition, Tourism, Trade and Investment, to name a few.

Recently at UNGA80, several African leaders called for the reform of the International Financial Architecture (#IFA) and the African Union even announced the setting of financial institutions to the Bretton Woods ones.