Treasury calls for G20 collaboration to support low-income economies amid global tensions

THE National Treasury has called for more cooperation among the Group of 20 (G20) countries for the benefit of low-income economies on the back of escalating geopolitical tensions.

- YOGASHEN PILLAY

This call comes amid concerns that ongoing conflicts—particularly in the Middle East, a crucial region for global oil supply—and heightened trade tensions between the United States and China are casting a long shadow over the global economy.

Speaking at the opening day of the Supreme Audit Institutions of the G20 nations (SAI20) on Tuesday, deputy finance minister David Masondo reflected on the recent G20 finance meetings, where the global economic landscape was painted with uncertainty due to geopolitical tensions and trade fragmentation.

Masondo said the G20 had to play a central role in fostering stability and strategic direction during this period of global economic turbulence.