The G20 is currently facing challenges in reaching a collective communique due to the difficult economic situation, but there is hope that a Chair Summary will still convey the key issues discussed.

US delegates participated actively in the meeting, with officials emphasizing the importance of finding common ground despite differing views on trade.

Dr. Rashad Cassim, Deputy Governor of the South African Reserve Bank, highlighted the need for constructive dialogue to assess global economic imbalances and address trade issues within the broader G20 mandate.

The G20 Finance and Central Bank Deputies meeting on July 14 and 15, 2025, focused on addressing global trade uncertainties and economic imbalances, particularly those caused by the US's import tariffs on trading partners, including emerging economies.

Updates from the IMF and World Bank on the Global Sovereign Debt Roundtable were discussed, aiming to improve collaboration on sovereign debt restructuring and related initiatives.

Cassim noted that the G20 has historically been most effective during economic crises, such as the 2008 financial crisis and the COVID-19 pandemic, when collective action was successfully achieved.

Dr. Duncan Pieterse emphasized that the strained multilateral system requires a strong G20 response, which will influence global recovery and sustainable development.

The meeting included sessions dedicated to drafting a communique that summarizes the discussions and agreements reached during this critical gathering.

Cassim identified tariff uncertainty as a dual problem that hampers economic growth, disrupts supply chains, and influences inflation, especially for countries imposing tariffs.

Despite the current difficulties in reaching a collective agreement, officials remain hopeful that the meetings will produce meaningful outcomes.