U.S.’ Scott Bessent’s decision to forgo the G20 finance minister’s meeting is highly unusual for a Treasury secretary, which usually plays a major role in this economic gathering. Image: New York Time.
(The Post News)– The G20 finance ministers and central bank governors meeting is set for next week in Cape Town, South Africa, but U.S. Treasury Secretary Scott Bessent has chosen to forego it. This is an unusual decision, as the U.S. Treasury secretaries usually attend these meetings to facilitate discussions on international financial and monetary policies. This meeting is to be held on 26 to 27 February in Cape Town.
G20 member nations have been notified of Bessent’s decision, according to people with knowledge of the situation. Bessent’s absence was attributed to “duties with the president,” according to one source, but no specifics were given.
This comes after recent hostilities between South Africa and the United States. President Donald Trump attacked South Africa’s land reform programs earlier this month, saying that some groups are being treated “very badly” and that “South Africa is confiscating land.” Cyril Ramaphosa, the president of South Africa, responded by defending the reforms and highlighting their goal of resolving historical injustices.
In December 2024, South Africa took over as G20 president, emphasising issues like equality, sustainability, and solidarity. The U.S. administration, however, has voiced worries that these themes are consistent with policies that it opposes, such as those pertaining to diversity, equity, inclusion, and climate change.
Given the important role the U.S. plays in debates concerning the world economy, the absence of important U.S. officials from these G20 meetings raises concerns about the group’s effectiveness and cohesiveness. China and Russia, two other G20 nations that have backed South Africa’s government, are anticipated to show up for the scheduled talks.It is unclear how the United States’ absence will affect talks about global financial stability, economic growth, and policy coordination as the G20 finance ministers and central bank governors gather in Cape Town.
In G20 finance meetings, the US has historically taken the lead, frequently directing discussions on global monetary policy, financial laws, and economic reforms. Its involvement is essential for supporting emerging economies and establishing agreement on global economic policies.
Lamola had expected the United States to have at least a minimal presence at the summit. “Solidarity/Ubuntu encourages group problem-solving,” he said. Our G20 presidency encompasses more than just climate change; it also involves treating countries in the Global South fairly.
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