G20, Durban
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Finance chiefs from the Group of 20 advanced and emerging economies said Friday that the global economy is facing
U.S. Treasury Secretary Scott Bessent did not attend the two-day meeting in the port city of Durban, continuing a string of snubs by Trump administration officials.
G20 finance chiefs agreed a communique on Friday that underscored the importance of central bank independence and the role of the World Trade Organisation in advancing trade issues.
At the G20 meeting in South Africa, finance chiefs emphasized central bank independence amid global economic uncertainty caused by trade tensions and extreme weather. The communique highlighted the need for cooperation and acknowledged the WTO's role in trade,
"The G20 was built around a presumption that all the world's major economies shared a common interest in a stable, relatively open global economy," said Brad Setser of the Council on Foreign Relations. "But Trump doesn't really care about stability and wants a more closed global economy."
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Durban G20 talks will seek to deepen global ties in "turbulent times," German sources sayA meeting of finance ministers and central bank governors from the Group of 20 in Durban, South Africa, will seek to deepen global relationships in "turbulent times", German finance ministry sources said on Tuesday,
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G20 finance ministers reach consensus on key economic issuesUS set to shift its approach towards G20 when it takes over group’s rotating presidency from South Africa in December.
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