Finance Minister Enoch Godongwana says amongst issues that South Africa will be pushing for during its presidency are high public debt and the cost of capital hindering development in many developing nations.
South Africa’s presidency of the G20 will put to the fore challenges faced by Africa and other developing nations. “The debt issue has always been occupying the finance track. Those who have been following the finance track will know that we have something called the common framework, whose main focus is the resolution of the debt of Africa and the developing nations. The countries that are benefiting in that framework at the moment are largely African countries. We have just concluded the Zambian one, we are dealing with Ghana now. It’s part of that common frame.
“G20 is a unique once in a lifetime opportunity for us to influence the present and future of the global economy. It is also an opportunity to put Africa, front and centre of the global economy in a way that has not been possible before. Under SA presidency, we’ve held a series of G20 meetings in the past three days.
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