SOUTH AFRICA G20 PRESIDENCY
(SHERPA TRACK)
FIRST G20 FOREIGN MINISTERS’ MEETING
Session II: Discussion on the Global Geopolitical Situation
Theme:
Solidarity, Equality, Sustainability
Statement
By
Mr. Claver Gatete
United Nations Under-Secretary-General and
Executive Secretary of ECA
Johannesburg, South Africa
20 February 2025
Hon. Minister Ronald Lamola, Chairperson for the Meeting,
Distinguished Delegates,
Ladies and Gentlemen:
It is an honour to address you at this defining moment in global affairs as we renew our commitment to inclusive multilateralism in the face of unprecedented global challenges.
I wish to begin by congratulating South Africa on its assumption of the G20 Presidency.
Our world today is experiencing profound geopolitical shifts marked by escalating conflicts, economic uncertainties and a widening trust deficit in multilateralism.
Yet, these challenges are not isolated; they are interconnected and amplify social and economic vulnerabilities across nations.
And while Africa is not the instigator of these global crises, it remains among the most affected.
From the impact of climate change, which has led to food insecurity and displacement, to the economic ramifications of external shocks, such as rising debt burdens and volatile commodity markets, Africa bears disproportionate costs.
Today, 1.1 billion people live in acute multidimensional poverty, with over half of them being children.
Furthermore, it is unacceptable that 3.3 billion people reside in countries that spend more on debt service than on development.
Indeed, the devastating floods in Libya, prolonged droughts in the Horn of Africa, and the economic aftershocks of the pandemic have reinforced the urgency of coordinated global action.
Simply put, without decisive intervention, Africa’s development trajectory will be significantly constrained.
In this light, the G20, as a platform that brings together the world’s largest economies has both the responsibility and the capacity to shape global responses.
But to be effective, we must restore trust in multilateralism.
We need a commitment to a more inclusive and equitable global governance system – one that does not merely recognize Africa’s challenges but actively integrates African voices and priorities in crafting solutions.
And our response must be bold.
First, we must rethink the architecture of global finance to ensure Africa has fair access to development financing, debt relief mechanisms and innovative climate finance solutions.
Sovereign debt distress remains an existential threat, with 20 African countries in or at risk of distress due to debt obligations exceeding $1.1 trillion.
The failure of the G20 Common Framework for debt resolution underscores the urgency of systemic reform.
Second, we must deepen investment in regional value chains.
In this regard, we must leverage the African Continental Free Trade Area (AfCFTA) to strengthen economic resilience and facilitate inclusive industrialization.
Finally, we must uphold the principles of peace and security through proactive diplomatic engagements, conflict prevention and regional stabilization efforts.
South Africa’s Presidency of the G20 provides a crucial opportunity to advance actionable solutions to shape the future of millions, particularly through initiatives like the Cost of Capital Commission and Task Forces on Economic Growth, Food Security and Digital Innovation.
And Africa is ready to be a constructive partner to build a more stable, prosperous and inclusive world.
I thank you.