The G20@20 Review Final Report is published under the responsibility of South Africa’s 2025 G20 Presidency.
This review was undertaken following the G20 Leaders’ agreement in the 2024 Rio de Janeiro Declaration, to assess the first full cycle of G20 Presidencies since 2008, and to provide recommendations for the second cycle.
Executive Summary
1. In 2025, the G20 completes its first full cycle of Presidencies since its elevation to a Leaders’ level forum in 2008. At the 2024 Rio de Janeiro Summit, Leaders asked Sherpas to evaluate the G20 since 2008 and provide recommendations for its second cycle, beginning under the leadership of the United States in 2026. In response, South Africa’s 2025 G20 Presidency has undertaken the G20@20 Review, drawing on an electronic survey, Sherpa-level discussions and written contributions, and input from an Advisory Panel to capture the diverse perspectives of participating Members and Guest countries.
2. The G20 begins its second cycle in an increasingly challenging and fragmented global context. Global growth remains below pre-2008 levels, public debt has reached historic highs, and geopolitical tensions have deepened, narrowing the space for consensus and ambitious joint action. In this environment, a well-functioning G20 may be needed more than ever. This Review aims to support Members in ensuring that the G20’s second cycle of Presidencies is fit-for-purpose and calibrated to deliver effective, coordinated action on shared priorities.
3. This Review confirms that the G20 matters. Across all components of the Review, Members underscore the G20’s role in strengthening multilateralism and international co-operation. By bringing together the Leaders of the world’s major economies, the G20 has facilitated joint action on issues of shared concern – in times of crisis, on longer-term global challenges, and in strengthening resilience to emerging threats.
4. As reaffirmed throughout this Review, the G20 should remain the world’s premier forum for international economic co-operation. Members agree that the Leaders’ vision from the 2009 Pittsburgh Summit remains relevant, including the mandate to provide the foundation for Strong, Sustainable, Balanced, and Inclusive Growth, and should continue guiding the G20’s work going forward.
5. The G20’s Leader-led character lies at the heart of its agility and credibility. The Rio de Janeiro Declaration reiterates that the G20 is a Leader-led and informal group and should remain so. This Review confirms that Members are committed to this Leader-led approach, together with the G20’s informality – defined as the absence of a charter, treaty, or permanent secretariat – and consensus-based decision-making on an equal footing. Members also agree that Leaders’ Summits are the most valuable elements of the G20 process, providing a unique forum for informal exchanges among Leaders that foster trust and enable frank discussion.
6. The G20 has been most effective in times of crisis. Swift G20 action prevented the 2008-09 Global Financial Crisis and the COVID-19 pandemic from becoming deeper global downturns. Milestones such as coordinated fiscal stimulus packages, the establishment of the Financial Stability Board (FSB), the launch of the Pandemic Fund, and the creation of the Debt Service Suspension Initiative (DSSI) and Common Framework for Debt Treatments provided timely support, helping stabilise the global economy and mitigate the immediate impact of these crises.
You can read and download the report on the following link: https://www.gov.za/sites/default/files/gcis_document/202512/g20-final-report.pdf
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