Finance Minister Enoch Godongwana discusses the challenges faced during the G20 finance track meeting in Cape Town, highlighting the lack of consensus among global leaders.
Image: Elmond Jiyane/GCIS
Finance Minister Enoch Godongwana told the media on Thursday that the G20 finance track meeting was unable to meet a broad consensus on the agenda of South Africa's presidency.
The minister conducted a media briefing on Day two of the summit, bringing together several finance ministers and central bank governors in Cape Town.
Godongwana said that he is "not happy" that a consensus was not reached for the track meetings.
The finance minister and the South African Reserve Governor, Lesetja Kganyago issued a chair's summary of the meeting but did not issue a communique. This in essence signalled that there were disagreements on certain matters.
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"The South African presidency has been keen to use every opportunity to forge consensus as far as possible, though it also respects and acknowledges that differences remain. Consequently, we will issue a chair's summary," Godongwana explained.
This means that after a week of meetings, some matters between the finance ministers and governors are still up for debate.
Godongwana said there was some good news and explained that while some global leaders could not agree on all the big-ticket themes, there was no opposition to the theme for solidarity, equality and sustainability.
He said that all the delegates that attended held constructive discussions, and most members endorsed the work programme that would provide the basis for future G20 meetings under the South African presidency.
"I am most satisfied with the fact that the work programme has been agreed and adopted,” the minister said.
But he did acknowledge that he was not happy with the fact that delegates could not achieve a consensus and issue a communique.
The finance minister said that the lack of a communique being issued was not a major issue and explained that this also happened in 2022 at the G20 meeting in Indonesia and again in 2023 in India.
"To my knowledge, since the Russia-Ukraine war, it has been difficult to find a joint communique,” Godongwana added.
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