The report concludes that while the G20 has delivered decisive outcomes during moments of global crisis, its effectiveness has declined in recent years due to geopolitical tensions, an overcrowded agenda and weak continuity between presidencies. The Group of Twenty (G20) remains a critical pillar of global economic co-operation but risks losing relevance unless it sharpens its focus and streamlines its agenda, according to a major review released under South Africa’s 2025 G20 Presidency. The G20@20 Review, published on Monday, assesses the bloc’s first full cycle of presidencies since it was elevated to a leaders’ forum during the 2008 global financial crisis.
Commissioned by G20 leaders at the 2024 Rio de Janeiro Summit, the review was conducted through surveys, Sherpa-level discussions and expert input, with support from the OECD, the South African Institute for International Affairs and the University of Toronto’s G20 Research Group. “The G20 still matters,” the report states, describing it as the world’s premier forum for international economic co-operation. However, it warns that the bloc is operating in a more fragmented and polarised global environment, marked by slower growth, record public debt and deepening geopolitical rivalries.
According to the review, the G20 has been most effective during periods of acute crisis. Coordinated action during the 2008–09 financial meltdown helped stabilise global markets, while collective measures during the Covid-19 pandemic, including fiscal stimulus, debt relief initiatives and the establishment of the Pandemic Fund, prevented a deeper global downturn. Beyond crisis management, the G20 has also shaped long-term global policy in areas such as financial regulation, international tax co-operation, development finance and food security.
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Initiatives such as the Financial Stability Board, the OECD/G20 Base Erosion and Profit Shifting framework, and the Agricultural Market Information System are cited as examples where political consensus translated into lasting institutional change. More than 20 working groups and multiple task forces are currently active, leading to overlapping mandates and limited follow-through.
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