G20 nearing deal on communique, South Africa finance chief says

South African Finance Minister Enoch Godongwana said the Group of 20 advanced economies are nearing a deal on a communiqué.

“We are closer to a making a deal and achieving a consensus that will emerge as a communiqué tomorrow,” Godongwana said in a Bloomberg Television interview Thursday on the sidelines of a G20 meeting in the eastern coastal province of KwaZulu-Natal. “I suspect there will be a communiqué.”

The economic club has failed to reach consensus on a communiqué since 2022, when Indonesia held the presidency. South Africa took over from Brazil in December and is now hosting the third meeting of G20 finance ministers and central bank governors this year. The two previous gatherings also ended without a communiqué, with a chairman’s summary indicating the group could not reach a consensus.

The sticking points include wording on sustainable financing coming from the US delegation and a reference to global imbalances on China’s side, the finance minister said.

“If we can achieve one it will be a major achievement,” Godongwana said

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