National Perspectives on Global Leadership: South Africa

The document examines South Africa's engagement with the G20, highlighting its focus on global growth, financial stability, and advocating for other African nations' access to finance. It notes that while the South African financial sector remained relatively stable, the country sought a greater voice in multilateral regulatory evolution. Domestically, the report suggests that South Africa's future geopolitical standing within the G20 may depend on whether its foreign policy remains pragmatic or becomes more ideological following internal political shifts within the ANC.

• South Africa viewed the G20's regulatory agenda as important for global financial stability, though not a primary concern for its own policy makers because the domestic financial sector was "relatively unscathed" by the crisis. However, the country sought more influence over multilateral regulations, valuing the creation of the Financial Stability Board and the IMF's expanded role in global surveillance.
• South Africa expressed concern over its current account deficit, which was funded by short-term portfolio inflows, fearing a potential currency crisis if financing dried up during the global credit crunch. While the London Summit did not address this directly, the resulting positive market mood helped alleviate these fears.
• As the only African representative in the G20, South Africa advocated for other African states, particularly regarding the maintenance of overseas development assistance (ODA), IMF capital injections, and trade finance funding to prevent economic instability on the continent.
• The document suggests that South Africa's future standing in the geopolitical order could be diminished if internal power shifts within the ANC lead to a more "anti-liberal" or "anti-West" ideological foreign economic policy, which would limit alliance possibilities within the G20.

APA

South African Institute of International Affairs (2009). National Perspectives on Global Leadership: South Africa. https://saiia.org.za/research/national-perspectives-on-global-leadership-south-africa-2/

Chicago

South African Institute of International Affairs. National Perspectives on Global Leadership: South Africa. 2009. https://saiia.org.za/research/national-perspectives-on-global-leadership-south-africa-2/.

Wikipedia

{{cite report |author=South African Institute of International Affairs |title=National Perspectives on Global Leadership: South Africa |date=30 June 2009 |url=https://saiia.org.za/research/national-perspectives-on-global-leadership-south-africa-2/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{southafricaninstituteofinternationalaffairs2009national, author = {{South African Institute of International Affairs}}, title = {{National Perspectives on Global Leadership: South Africa}}, institution = {South African Institute of International Affairs}, year = {2009}, month = jun, url = {https://saiia.org.za/research/national-perspectives-on-global-leadership-south-africa-2/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }