G20 Finance Ministers & Central Bank Governors Conclude 2-day Meeting In South Africa With Joint Communique Focused On Boosting Global Cooperation.

The Group of Twenty (G20) Finance Ministers and Central Bank Governors wrapped up their two-day meeting in South Africa with a joint communique focused on boosting global cooperation. The talks, held in Durban, addressed major global challenges including conflict, trade tensions, supply chain disruptions, debt, and climate-related disasters. In the communique, officials pledged to work together to tackle both existing and emerging risks.
 
The ministers agreed to pursue growth-focused economic policies. They also committed to building fiscal buffers, promoting investment, and supporting central bank independence to ensure price stability.
 
The South Africa’s National Treasury in a statement said that the ministers agreed to bolster long-term growth potential by pursuing growth oriented macroeconomic policies, while building fiscal buffers, ensuring fiscal sustainability, encouraging public and private investments, undertaking productivity-enhancing reforms and safeguarding central bank independence to maintain price stability. It said  World Trade Organization (WTO) requires some comprehensive reform to improve all its functions, through innovative approaches, to be more relevant and responsive to today’s realities.