By Thapelo Molefe
The heightened uncertainty that has characterised the global economy for the past five years persists, and G20 countries as a bloc with mostly developing economies, must find solutions.
This was a key message of Treasury director-general Duncan Pieterse, who spoke at the 4th G20 Finance Track Meeting of Finance and Central Bank Deputies meeting held at Zimbali outside Durban in KwaZulu-Natal.
“We are meeting at a moment of ongoing uncertainty in the global economy,” Pieterse said
“While there are signs of resilience in some areas, various challenges remain: uneven growth, high debt levels, inflation and tighter financial conditions.”
This has been a feature of the global economy since the outbreak of the Covid-19 pandemic five years ago. It was followed by the cost-of-living crisis sparked by the Russia-Ukraine conflict and sustained by the conflict in the Middle East.
Pieterse said that long-term changes such as digitalisation,
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