G20 Finance Chiefs Approach Consensus in South Africa
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As the G20 Finance Track meetings conclude in South Africa, leaders address the pressing economic challenges facing developing nations amid global uncertainty.
G20 finance chiefs agreed a communique on Friday that underscored the importance of central bank independence and the role of the World Trade Organisation in advancing trade issues.
"The G20 was built around a presumption that all the world's major economies shared a common interest in a stable, relatively open global economy," said Brad Setser of the Council on Foreign Relations. "But Trump doesn't really care about stability and wants a more closed global economy."
At the G20 meeting in Durban, Canada's finance minister emphasized the need to combat the prevailing uncertainty caused by trade restrictions and tariffs. With discussions overshadowed by U.S. policies,
The United States aims to pare the Group of 20 major economies back to its financial roots next year when it takes over the rotating presidency from South Africa, sources familiar with the Trump administration's plans said.
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Al Jazeera on MSNG20 finance ministers reach consensus on key economic issuesUS set to shift its approach towards G20 when it takes over group’s rotating presidency from South Africa in December.