WATCH | G20 finance chiefs back central bank independence in communique after Durban meeting
Executive Summary
G20 finance ministers and central bank governors issued a joint communique after a two-day meeting in South Africa, emphasizing central bank independence and pledging enhanced cooperation amid global uncertainties from trade tensions, conflicts, and extreme weather events. The statement, the first since October, strongly defends central banks' autonomy against US President Trump's criticisms of Federal Reserve Chair Jerome Powell, while calling for World Trade Organization reform and addressing debt vulnerabilities in low- and middle-income countries, without mentioning tariffs, specific wars, or climate change explicitly. This consensus achievement is hailed as a success and a positive signal ahead of the US assuming the G20 presidency in December.