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The G20 at a crossroads
The G20 is assessed as an effective tool for short-term macroeconomic crisis response but a failure in delivering structural economic justice. While it mobilised trillions during the 2008 financial crisis and the COVID-19 pandemic, it has consistently prioritised creditor interests and market stability over the needs of the Global South. The report highlights systemic failures in international financial architecture reform, sovereign debt restructuring, and climate finance, where funding remains insufficient and skewed toward profitable mitigation. However, recent Global South presidencies (Indonesia, India, Brazil, and South Africa) have successfully introduced new priorities, such as taxing the super-rich and the care economy. The authors recommend that the G20 redefine 'crisis' to include social and ecological threats and adopt justice-based metrics for success.
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Document type: Report