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The G20 will struggle to advance its policy agenda

Friday, December 23, 2022

Significance

Showcasing the role of rising powers in global economic governance, the presidency will pass from India to Brazil for 2024 and to South Africa in 2025. Developing country priorities will increasingly define the G20's policy agenda. However, structural geopolitical and economic forces are likely to hinder progress.

Impacts

  • The G20 will continue to struggle to address effectively the challenges facing the international community.
  • Reliance on ‘blended finance’ is unlikely to produce results anywhere near sufficient to address funding gaps.
  • IMF quotas are up for review in 2023 but gridlock is likely; emerging nations want more votes but established powers are unlikely to agree.

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