South African President Cyril Ramaphosa has outlined his country’s vision for its historic G20 presidency, focusing on debt relief for developing nations and climate action, at the group’s first Foreign Ministers’ meeting.
Speaking in Pretoria, Ramaphosa highlighted the significance of the G20 Leaders’ Summit being held on African soil for the first time, while setting out four key priorities for South Africa’s presidency.
The president painted a stark picture of the global debt crisis affecting developing nations: “Developing economies are currently experiencing the highest borrowing costs in nearly two decades. Debt payments are crowding out vital domestic expenditure and diverting critical resources away from development. More than 3.3 billion people live in countries where interest payments on debt exceed education or health spending.”
On climate change, Ramaphosa delivered a sobering assessment: “The climate crisis is no longer a threat. It is a catastrophic reality. Last year, global average temperature exceeded 1.5 degrees Celsius above pre-industrial levels for the first time. The impact of climate change places a disproportionate and unjust burden on the poorest and most vulnerable.”
The South African leader outlined four main priorities: strengthening disaster resilience, ensuring debt sustainability for low-income countries, mobilising finance for energy transition, and harnessing critical minerals for sustainable development.
He also addressed ongoing global conflicts, including the situation in Gaza, welcoming the ceasefire agreement between Israel and Hamas as “a crucial first step toward ending the severe humanitarian crisis faced by Palestinians in Gaza”.
The meeting comes as the G20 faces increasing pressure to reform global financial institutions and address mounting challenges in developing nations. Ramaphosa called for reforms to the UN Security Council, multilateral trading system and international financial architecture “to make them more representative, more agile and more responsive to today’s global realities”.
South Africa’s G20 presidency has placed solidarity, equality and sustainability at its centre, with Ramaphosa emphasising that the group’s decisions “must reflect the needs and aspirations of all who form part of the G20 family”.
The G20 Leaders’ Summit, representing over two-thirds of the world’s population, will be held later this year.
