Minister Donohoe to attend G20 and G7 meetings in South Africa
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From: Department of Finance
- Published on: 26 February 2025
- Last updated on: 26 February 2025
The Minister for Finance Paschal Donohoe will be in Cape Town this week to represent Ireland at the first meeting of G20 Finance Ministers and Central Bank Governors held under the South African Presidency. The Governor of the Central Bank of Ireland, Gabriel Mahklouf, will join the Minister for this important G20 meeting, which takes place on 26 and 27 February.
Ireland became an invited member of the G20 in December 2024 for the term of the South African Presidency, which runs to the end of November 2025.
Minister Donohoe will also attend a meeting of G7 Finance Ministers on 27 February in his capacity as President of the Eurogroup. As well as this, the Minister will have the opportunity to hold several bilateral meetings with counterparts during his visit.
At the conclusion of his visit, the Minister will also address an event in Cape Town hosted by the Ambassador of Ireland to South Africa, which will be attended by members of the Irish community as well as representatives from South Africa’s political, business and cultural sectors.
Ahead of travelling to South Africa, the Minister said:
“Ireland is determined to make a full contribution during our G20 membership. I am grateful to our South African hosts for their invitation to Ireland to become a guest member, reflecting both our excellent bilateral relationship with them and Ireland’s strong belief in a rules-based international order."
This meeting will consider key issues such as macroeconomic co-operation, international financial architecture, infrastructure, sustainable finance, taxation, financial sector issues and financial inclusion. G20 Finance Ministers and Central Bank Governors will meet again in April, July and October.
Notes
1. The G20 or Group of 20 is an intergovernmental forum comprising the world’s leading economies to discuss international economic and financial stability. It was founded in 1999 after the Asian financial crisis of 1997/98.
2. The G20 comprises of 19 sovereign countries, the African Union and the European Union. G20 members represent around 85% of the global Gross Domestic Product, over 75% of the global trade, and about two-thirds of the world population.
3. South Africa holds the G20 Presidency from 1 December 2024 through to November 2025 under the theme ‘Solidarity, Equality, Sustainability’.