Pretoria: The G20@20 Review Final Report has been published under the responsibility of South Africa’s 2025 G20 Presidency.
According to South African Government News Agency, this review was undertaken following the G20 Leaders’ agreement in the 2024 Rio de Janeiro Declaration, aimed at assessing the first full cycle of G20 Presidencies since 2008 and providing recommendations for the upcoming second cycle.
The report comes as the G20 completes its first full cycle of Presidencies since its elevation to a Leaders’ level forum in 2008. At the 2024 Rio de Janeiro Summit, G20 Leaders tasked Sherpas with evaluating the G20’s performance since its inception and offering guidance for the next cycle, which will start under the leadership of the United States in 2026. South Africa’s 2025 G20 Presidency has spearheaded the G20@20 Review, utilizing an electronic survey, Sherpa-level discussions, written contributions, and insights from an Advisory Panel to gather a wide range of perspectives from participating Members and Guest countries.
The G20 enters its second cycle at a time when the global context is increasingly challenging and fragmented. Global growth continues to lag behind pre-2008 levels, public debt has reached historic highs, and geopolitical tensions have intensified, hindering consensus and ambitious joint initiatives. In this environment, the report suggests that a well-functioning G20 is crucial. The Review is designed to help Members ensure that the G20’s second cycle of Presidencies is equipped to deliver effective, coordinated action on shared priorities.
The review emphasizes the significance of the G20 in strengthening multilateralism and international cooperation. By uniting the Leaders of the world’s major economies, the G20 has facilitated joint action on various global concerns, from crises to longer-term challenges, and in enhancing resilience to emerging threats. Members agreed that the G20 should remain the premier forum for international economic cooperation, aligning with the vision set during the 2009 Pittsburgh Summit.
The Leader-led nature of the G20 is central to its effectiveness and credibility. The Rio de Janeiro Declaration reinforces that the G20 should maintain its Leader-led and informal status, characterized by an absence of a charter, treaty, or permanent secretariat, and consensus-based decision-making. Members concur that Leaders’ Summits are the most valuable aspects of the G20 process, as they provide a unique platform for informal exchanges that build trust and enable candid discussions.
Historically, the G20 has been most impactful during crises. Swift actions by the G20 helped prevent the 2008-09 Global Financial Crisis and the COVID-19 pandemic from worsening into deeper global downturns. Initiatives like coordinated fiscal stimulus packages, the establishment of the Financial Stability Board, the launch of the Pandemic Fund, and the creation of the Debt Service Suspension Initiative and Common Framework for Debt Treatments have been pivotal in stabilizing the global economy and mitigating the impact of crises.