Finance chiefs of G20 countries were close to agreeing a common position on trade and other global challenges on Friday, which would be the first since U.S. President Donald Trump's election victory and tariff war.

This is not only a strategic investment — it is one that can boost growth, create business opportunities, and reduce pressure on public budgets in key member states,” said Klingbeil.

He added: "South Africa's Presidency will be the first time an African country has presided over the G20. We will use this moment to bring the development priorities of the African Continent and ...

South Africa should join others at the G20 to support universal social protection systems, and not means-tested systems that base eligibility for support on income, ...

South Africa's President Cyril Ramaphosa, right, greets delegates at G20 Finance Ministers and Central Bank Governors meeting in Cape Town, South Africa, Wednesday, Feb. 26, 2025. (AP Photo/Nardus ...

The G20 finance ministers stressed Friday that central banks must remain independent, after months of escalating attacks by US President Donald Trump on Federal Reserve boss Jerome Powell.

G20 chair South Africa warned Thursday that abandoning the rules-based global order and declining cooperation could derail 2030 development goals to end hunger, eradicate extreme poverty and fight climate change.

"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."