At the Cape Town G20 finance summit, South African President Cyril Ramaphosa decried the “erosion of multilateralism” as a serious threat to global growth and stability. During his speech, he emphasized that a robust, rules-based order is crucial amid heightened geopolitical tensions. In addition, Ramaphosa called for innovative financing and insurance solutions to combat climate-induced disasters in vulnerable nations. His remarks were made in contrast to the notable absence of US Treasury Secretary Scott Bessent, about one week after US Secretary of State Mark Rubio snubbed a similar event. Rubio’s decision to skip the summit was in response to what he alleged to be Pretoria’s “anti-Americanism.”
Source: DW
