President Cyril Ramaphosa on Tuesday expressed confidence in South Africa's ability to present "the most impressive G20", stating that under the country's leadership, the intergovernmental forum will seek to advance sustainable solutions to tackle high structural deficits, liquidity challenges and extend debt relief to developing economies.

Ramaphosa was speaking during the launch of South Africa's G20 Presidency in Cape Town, where he pointed out that Finance Minister Enoch Godongwana and International Relations and Cooperation Minister Ronald Lamola will lead the country's G20 process.

"…on their shoulders will rest the responsibility of making our G20 successful and I know for sure through the very capable excursion of task of principally the three departments in government, - the Presidency, Department of International Relations and Cooperation and National Treasury - we will be able to present a most impressive G20. As we have gone around the other G20s, we have learnt a great deal and they have gone there with their eyes wide open, to see what they can learn as they know that this is a great moment for South Africa," Ramaphosa said.

South Africa assumed the Presidency of the G20 on December 1, making it the first African country to lead the organisation for a rotational, one-year term.

South Africa has adopted the theme 'Solidarity, Equality and Sustainability' for its G20 Presidency.

Ramaphosa announced that South Africa would use the G20 to bring the development priorities of the African continent and the Global South more firmly onto the forum's agenda.

He said South Africa would build on the work of the most recent G20 Presidencies of Brazil in 2024, India in 2023 and Indonesia in 2022.

Ramaphosa pointed out that a key obstacle to inclusive growth in developing economies, including many in Africa, was an unsustainable level of debt, which he said limited their ability to invest in infrastructure, healthcare, education and other development needs.

He added that South Africa would also seek to ensure that sovereign credit ratings were fair and transparent and it aimed to address high-risk premiums for developing economies.

He said South Africa's G20 Presidency took place at a moment in which the world was facing severe challenges, where the outlook for global economic growth remained subdued, and as many economies carried the burden of unsustainable levels of debt.

He also noted worsening weather associated with climate change, and geopolitical instability, conflict and war, which he said were causing further hardship and suffering.

"This is all happening at a time of great technological change, which presents both opportunities and risks. While the challenges we face are common, their causes and consequences are unevenly distributed across and between countries," Ramaphosa explained.

He highlighted that in working together with G20 members, and building partnerships across society, South Africa would seek to harness global will and capabilities to confront these challenges.

"We all seek to achieve more rapid, inclusive and economic growth. We all seek a more just and equal world, and a world in which poverty and hunger are eradicated. We all seek to avert the worst effects of climate change and to preserve our planet for future generations," he stated.

He noted the disparities in wealth and development within and between countries, which he said were "unjust and unsustainable".

"By promoting equality, we strive to ensure fair treatment and equal opportunities for all individuals and nations. We aim to break down divisions of economic status, gender, race, geography or any other characteristic," he stated.

SHARED GOALS

Meanwhile, Ramaphosa pointed out that South Africa must take action to strengthen disaster resilience, calling for the global community, including international financial institutions, development banks and the private sector, to scale up post-disaster reconstruction.

He also noted the need to mobilis...