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TimesLiveTimesLive29/08/2025
POSITIVE

Ramaphosa launches G20 task force to examine global wealth inequality

Ramaphosa launches G20 task force to examine global wealth inequality

Executive Summary

President Cyril Ramaphosa launched the first G20 experts task force to examine global wealth inequality and its impacts on growth, poverty, and multilateralism during South Africa's presidency. Chaired by Nobel laureate Joseph Stiglitz and including figures like UNAids director Winnie Byanyima and economist Jayati Ghosh, the six-member group will present findings to G20 leaders at the Johannesburg summit in November. Ramaphosa highlighted examples like unequal Covid-19 vaccine distribution and rising food and energy prices exacerbating divides, where the richest 10% control 76% of global wealth. The initiative aims to convert public frustration into actionable policies, offering a path to address inequality as a policy choice.