Faced with a boycott by the United States, on Sunday 23 November in Johannesburg the nineteen other leaders of the world’s most developed economies reaffirmed their attachment to “multilateralism” and their “unwavering commitment to act in accordance with international law, including (...) the Charter of the United Nations and its principle of peaceful settlement of disputes”.
In their declaration, the G20 countries refer to the Ubuntu philosophy, which recognises that “individual nations cannot thrive in isolation”. Citing “growing geopolitical competition” and “deepening inequality”, they advocate “multilateral cooperation” to tackle global challenges.
In line with the priorities set by the South African Presidency (see EUROPE 13757/18), the G20 is focusing on the fight against global inequalities. It recognises that high public debt, combined with rising interest rates, is an obstacle to growth in many countries, especially in Africa. This situation limits the ability to invest in health, education and basic infrastructure.
“Together, we must create a virtuous cycle of reduced debt, higher public investment and more rapid and inclusive economic growth”, said South African President Cyril Ramaphosa in his closing remarks.
Noting the resilience of the economy at the start of 2025, the G20 leaders believe that, to deal with downside risks such as trade tensions, high debt and natural disasters, member countries need to maintain sustainable fiscal policies, undertake structural reforms and encourage investment.
The leaders reiterated their “strong support to Africa to promote growth, trade, jobs and prosperity”, noting “the key role private investment plays” in the continent’s economic development, and encouraging emerging technologies linked to artificial intelligence.
In addition, the leaders commit to reforming the UN Security Council through “transformative reform that aligns it with the realities and demands of the 21st century”, calling for an expanded composition of this body to improve “the representation of the underrepresented and unrepresented regions and groups, such as Africa, Asia-Pacific and Latin America and the Caribbean”.
In 2026, the United States will assume the presidency of the G20.
To see the G20 declaration: https://aeur.eu/f/jm7 (Original version in French by Mathieu Bion and Bernard Denuit)