This is not only a strategic investment — it is one that can boost growth, create business opportunities, and reduce pressure on public budgets in key member states,” said Klingbeil.

The global economy has slowed and become less supportive of developing countries. African countries may be forced to resort to international capital markets to fill the gap in their development financing needs.

G20 chair South Africa warned Thursday that abandoning the rules-based global order and declining cooperation could derail 2030 development goals to end hunger, eradicate extreme poverty and fight climate change.

South Africa should join others at the G20 to support universal social protection systems, and not means-tested systems that base eligibility for support on income, ...

DURBAN (Reuters) -G20 finance chiefs will meet in South Africa on Thursday under the shadow of President Donald Trump's tariff threats and questions over their ability to tackle global challenges together.

The global economy has slowed and become less supportive of developing countries, leaving African nations increasingly reliant on international markets to fill the gap in their development financing needs.

"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."

Deputy Minister of Forestry, Fisheries and the Environment, Narend Singh, has urgently called for global leaders to address climate action and provide the necessary support for mitigation and adaptation.