Much of the talk here in Johannesburg, in the build up to the G20 summit, is about the future of multilateralism. It sounds grand but it’s an issue that will dictate so much in the coming years, from the way businesses approach global expansion to political issues surrounding migration and trade diplomacy. The fundamental question is whether Washington’s boycott of the summit, and the no-show by other leaders, is a blip in the world order, or symptomatic of a long-term shift toward naked self-interest.
A panel of experts has released a report that makes the case for using a multilateral approach to tackling debt challenges faced by several African countries. G20 economies should work with the IMF and other financial institutions to launch a new debt refinancing plan for low-income countries hit by heavy repayments, the panel recommended.
It’s clearly time for a new approach. Last…
