Finance ministers from many of the world’s largest economies are poised to skip G20 meetings in South Africa this week, underscoring the declining relevance of the body at a time when global co-operation is faltering.
Among the countries that are not expected to send their finance ministers to Cape Town are India, China, Brazil and Mexico, according to people familiar with the organisation of the meetings.
US Treasury secretary Scott Bessent said last week he would remain in Washington — a move that followed secretary of state Marco Rubio’s decision to not “waste taxpayer money or coddle anti-Americanism” by attending a G20 meeting of foreign ministers in South Africa last week.
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