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South Africa: G20 officials agree to strengthen multilateralism

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The Group of Twenty (G20) members concluded the two-day Finance Ministers and Central Bank Governors meeting on Friday and agreed to strengthen multilateral cooperation to address existing and emerging risks to the global economy in a joint communique signed in Durban, South Africa. The G20 officials discussed the global challenges such as conflicts, geopolitical and trade tensions, disruptions to global supply chains, high debt levels, and frequent extreme weather events and natural disasters, according to the communique. After a tough round of deliberations, the G20 officials found common ground on equality and sustainability goals, and reached consensus on several issues plaguing African countries, including trade, sustainable funding and debt vulnerabilities. The G20 discussions aimed to protect multilateral trade systems to avoid economic stagnation across the continent. G20 nations are committed to tackling debt issue, offering hope for developing nations under financial strain. Shotlist: Durban, South Africa - July 18, 2025: 1. Logo of G20 2025, flags; 2. Various of attendees at venue of G20 Finance Ministers Central Bank Governors Meeting; 3. Press conference in progress; 4. SOUNDBITE (English) David Masondo, South African Deputy Finance Minister (starting with shot 3): "If we keep fragmenting and not solve problems collectively beyond nation states, through nation states, of course, humanity will be in crisis."; 5. Attendees; 6. SOUNDBITE (English) Valdis Dombrovskis, European Commissioner for Economy and Productivity: "It's important to work towards preserving a rules-based, multilateral trading environment because that's the way how we avoid global economic fragmentation with all its negative economic implications. And we know that it can lead to very severe economic implications."; 7. Various of sign showing theme of G20 2025 -- "Solidarity, Equality, Sustainability", shuttles; 8. SOUNDBITE (English) Xu Haoliang, undersecretary-general, associate administrator, UN Development Program (starting with shot 7/ending with shot 9): "There are also very active discussions on how to deal with lowering the cost of borrowing for developing countries. That includes addressing risk issues, to address the credit rating issues, and that also, using different financial instruments, including insurance, for example, to deal with the financial consequences of disasters."; 9. Various of logo of G20 2025, flags; Durban, South Africa - July 14, 2025 10. Various of attendees. [Restriction - No access Chinese mainland]

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