Overview
On the occasion of South Africa's 2025 G20 presidency, we were excited to announce our partnership with Nedbank, UBS, and the Reinventing Bretton Woods Committee to host our second G20-endorsed forum on “Global Financial Architecture In Transition.”
The roundtable convened local and international experts to support the South African G20 presidency in spotlighting tangible outcomes along the finance track. The dialogue aimed to surface key policy priorities in response to the prevailing global economic conditions and geopolitical challenges.
This event was by invitation only and took place at The Oyster Box Hotel in Durban.
Agenda
July 16
9:00 a.m.—9:15 a.m. SAST
Welcome And Introduction
9:40 a.m.—10:45 a.m. SAST
Rebalancing The Global Economy For Inclusive Growth — Panel 1
Leading experts explored strategies to reshape the global economy toward equitable growth by examining key policy frameworks and structural reforms.
The session covered:
- The persistent nature ofglobal imbalances despite coordinated efforts by the G20.
- The impact of US fiscal policy and China’s surplus on capital flows.
- Whether current patterns suggest that global imbalances are merely shifting geographically rather than being resolved.
Chair: Simon Penn, strategist, UBS
Speakers: Andrea M Macheler, deputy general manager, Bank for International Settlements; Alvaro Pereira, chief economist, OECD; Ceyla Pazarbasioglu, director of the strategy, policy and review, IMF
11:00 a.m.—12:45 p.m. SAST
Emerging Markets’ Resilience — Panel 2
Unpacking the engines of resilience. This session looked at how emerging markets are weathering global volatility — from agile fiscal responses and robust domestic demand to strategic diversification and institutional reforms
The session will cover:
- Whether COVID-19 marked a structural shift in managing macroeconomic shocks, and the reasons behind divergent emerging market recoveries since 2020.
- How fiscal space is being rebuilt amid high debt, and the impact of changing global trade dynamics, including the impact of tariffs and regional blocs.
Chair: Nicky Weimar, chief economist, Nedbank Group
Speakers: Rashad Cassim, deputy governor, South African Reserve Bank; Mitali Das, advisor, fiscal affairs department, IMF; Olayemi Cardoso, governor, Central Bank of Nigeria; Poonam Gupta, deputy governor, Reserve Bank of India; Paulo Picchetti, deputy governor for International Affairs and Corporate Risk Management, Brazil Central Bank
1:45 p.m.—2:45 p.m. SAST
How Digital Finance And Digital Money Are Rewriting The Rules Of The International Monetary And Payment System — Panel 3
Digital transformation is rapidly reconfiguring the architecture of global finance. In this conversation, the experts discussed the growing impact of digital finance on global financial systems, focusing on risks, regulatory challenges, and opportunities from fintech innovations.
The session will cover:
- How tokenized dollar assets, stablecoins, and programmable money are reshaping monetary sovereignty and the international monetary system.
- The promise of unified ledgers for cross-border payments and the critical role of the G20 and emerging market central banks in shaping digital money governance.
Chair: Dominik Weh, partner, Oliver Wyman
Speakers: Agnès Benassy Queré, deputy governor, Banque de France; Marijke Guest, digital payments executive, Nedbank; Rogerio Zandamela, governor, Central Bank of Mozambique
3:00 p.m.— 4:00 p.m. SAST
The Future Of The G20 — Panel 4
As the international economic landscape grows more fractured, the G20 faces a pivotal moment. This panel examined the evolving role of the group, addressing global economic challenges, focusing on the future agenda, governance reforms, and ability to drive coordinated international policies.
The session will cover:
- Whether the G20 has effectively adapted to global economic fragmentation amid COVID-19, geopolitical tensions, and waning multilateralism.
- How emerging economies can sustain influence beyond their host year, and the dynamics between G20 other global platforms such as BRICS+, IMF, and the United Nations.
- The potential for emerging markets to serve as diplomatic bridge-builders and the case for new coalitions, or institutional reforms to bolster the G20’s legitimacy and effectiveness.
Chair: Marc Uzan, director, Reinventing Bretton woods Committee
Speakers: Daniel Mminele, chairman, Nedbank Group; Andreas Dombret, senior advisor, Oliver Wyman, Former Deputy Governor, Bundesbank
4:15 p.m.— 5:15 p.m. SAST
From Baku To Belem: Global Financial Architecture In Transition — Panel 5
As global climate finance ambitions gain momentum, the Baku to Belém Roadmap lays the foundation for a transformative shift in international capital flows. This high-level dialogue looked at a critical initiative to mobilize $1.3 trillion annually by 2035, aiming to scale up climate finance for developing countries
The session will cover:
- Pathways to unlock large-scale investments and deliver impactful climate finance solutions.
- Innovative financial mechanisms, reforms in the global financial architecture, and the vital role of transparency and stakeholder engagement to enable just and sustainable transitions.
Chair: Amar Bhattacharya, co-chair, Independent High-Level Expert Group on Climate Finance
Speakers: Tatiana Rosito, secretary for international affairs, Brazil Ministry of Finance; Duncan Pieterese, director-general, National Treasury of South Africa
5:15 p.m. SAST
Closing
