Africa-Press – South-Africa. It’s crunch time for South Africa as it looks to secure a declaration at the leaders’ summit, which kicks off in the south of Johannesburg on Saturday.
G20 heads of state, with some exceptions, have gathered at Nasrec for what’s expected to be a historic meeting.
It’s the first time the G20 is on African soil, with South Africa driving the continent’s agenda for growth and development.
The group of 20 was founded in 1999 after the Asian financial crisis, as an informal platform for the finance ministers and central bank governors of the most important industrialised and developing economies to discuss international economic and financial stability.
The forum initially focused largely on broad macroeconomic issues, but it has since expanded its agenda to include trade, climate change, development and anti-corruption.
With 19 countries and two regional bodies, the G20 includes the world’s major economies, representing 85% of global GDP, 75% of international trade, and two-thirds of the world’s population.
South Africa’s G20 presidency takes place when the world is facing a series of overlapping crises, including climate change, underdevelopment, inequality, and geopolitical instability.
More than 130 meetings have been held in the country since a year ago when South Africa assumed the presidency.
On Saturday, the heads of states are expected to begin talks on what should be on the leaders’ declaration – a document of priorities to take forward for the world’s leaders to address.
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