President Cyril Ramaphosa
In an address to G20 finance ministers, President Cyril Ramaphosa on Wednesday pleaded for a rules-based international order that could shield weaker nations against the excesses of the powerful.
“At this time of heightened geopolitical contestation, a rules-based order is particularly important as a mechanism for managing disputes and resolving conflict,” Ramaphosa said as he opened the top-level meeting of the G20 finance track in Cape Town.
“It is vital to ensuring that the rights and interests of the vulnerable are not trampled beneath the ambitions of the powerful.”
He said multilateral cooperation was the only hope of overcoming unprecedented global challenges, including rising debt burdens; slow and uneven growth; entrenched poverty and inequality and the existential threat of climate change.
“We are not moving quickly enough or boldly enough to address these global challenges. “We must collectively target a step-change in our efforts to improve the lives of all of our people and to protect future generations,” he said.
Terming inequality within and between countries one of the greatest barriers to development and stability, Ramaphosa proceeded to defend the themes South Africa has chosen for its year-long presidency of the G20.
“The pursuit of equality is an imperative for wealthy and poor countries alike. That is why South Africa has placed solidarity, equality and sustainability at the centre of its G20 presidency.”
US foreign secretary Marco Rubio earlier this month dismissed South Africa’s focus on equality and climate change as “anti-Americanism” and refused to attend the G20 meeting of foreign ministers in Johannesburg last week.
This week’s opening meeting of the finance track is taking place in the absence of US treasury secretary Scott Bessent, who is spearheading Washington’s efforts to pressure Ukraine to sign over revenue from its mineral resources as payment for military support against Russia.
The US’s abrupt policy shift on Ukraine and rapprochement with Moscow has destabilised its alliance with Europe and redrawn the diplomatic landscape within the G20.
It prompted International Relations Minister Ronald Lamola to say last week that South Africa would propose that “geopolitical issues should be discussed separately so the work of the rest of the G20 groups is not derailed”.
Ramaphosa used his address to recommit to the four priorities set for South Africa’s presidency — climate resilience, debt sustainability for developing nations, finding finance for a just energy transition and harnessing critical mineral resources for sustainable development.
The pursuit of all four has been complicated by the political transition in the US, to whom South Africa will hand over the G20 presidency at the end of the year. President Donald Trump last month signed an executive order withdrawing from the Paris Agreement.
He called for more concessional and grant funding to reduce emissions in line with the goals of the agreement “in a manner that is equitable and just” by supporting the energy transition in developing countries.
It was undeniable that the developing world was most vulnerable to the effects of climate change and unable to undo the damage of climate-driven disasters without incurring further debt.
“The need to rapidly scale up adaptation funding is particularly important,” he said, before calling on G20 countries to demonstrate ambition on climate goals ahead of the COP30 in Brazil in November.