G20 Leaders' Summit declaration praised

The article reports on the G20 summit hosted by South Africa, culminating in a declaration addressing key global challenges such as inclusive economic growth, industrialization, employment, reduced inequality, and solidarity between developed and developing nations. South Africa's themes emphasize tackling inequality—drawing from its own experiences—and climate change threats to economies and livelihoods. The Labor Federation Kasatu and the Institute for Economic Justice welcomed the focus on these issues, particularly the debt crisis affecting over 34 African countries in high debt distress, where debt servicing exceeds spending on health and education, impacting 750 million people and hindering development. The declaration incorporates recommendations from expert panels on global inequality and African debt, including high capital costs. Analysts praised commitments to fairer exchange rate policies, crucial for African nations borrowing in foreign currencies to avoid disadvantages from unfavorable rates. On climate action, the G20 resolved to triple renewable energy capacity and double energy efficiency by 2030, unlocking funding like the EU's 15.1 billion euros for African projects, with South Africa—Africa's most industrialized nation—expected to receive a significant share to transition from coal dependency via solar and wind farms. The two-day summit closed with President Cyril Ramaphosa (noted as Suraposa, likely a transcription error) reiterating messages of partnership and unity in addressing global challenges, as covered by SABC News Johannesburg.