As South Africa prepares to host the Group of 20 (G20) Leaders’ Summit in Johannesburg on November 22-23, the country’s High Commissioner to India, Anil Sooklal, has highlighted the key issues that will be discussed during the summit. One of the major focuses will be on the African continental free trade areas and how G20 nations can partner with the African continent to deepen trade. Sooklal emphasized that Africa has a lot to offer, but the continent wants to be seen as a partner, not just a provider of natural resources.
Another significant issue that will be addressed is debt sustainability, particularly in African countries. The COVID-19 pandemic has had a devastating impact on economies, and debt servicing is preventing many African countries from developing. South Africa has brought sharp focus to this issue, and President Cyril Ramaphosa has appointed a former Finance Minister to head an African committee looking at debt relief. The outcomes of this committee will feed into the finance track of the G20, which is working on debt relief.
The summit will also discuss critical minerals, which are essential for new technologies and the transition to green energy. Africa is a major reservoir of critical minerals, and Sooklal emphasized the importance of sustainable and responsible extraction of these minerals. Climate action, reform of global governance architecture, and issues related to the International Monetary Fund (IMF), World Bank, World Trade Organization (WTO), and the United Nations will also feature prominently on the agenda.
Sooklal noted that the G20 framework on debt, adopted in 2020, will be built upon, and the summit will work towards finding solutions to the debt sustainability issue. He also highlighted the importance of the G20 nations partnering with Africa to deepen trade and promote economic development. Overall, the G20 Leaders’ Summit in Johannesburg is expected to be a significant event, with a focus on addressing key global issues and promoting cooperation between nations.