The club of finance ministers and central bankers who’ve steered the global economy through a quarter century of market meltdowns, recessions and the pandemic meet this week facing new headwinds to their goal of broader prosperity — tariffs and the imminent threat of trade wars.

Finance ministers and central bankers from the G20 top economies gather in South Africa on Wednesday and Thursday, for a meeting marred by the absence or curtailed attendance of key members and disputes over the main issues of climate,

The UAE, represented by the UAE Ministry of Finance and the Central Bank of the UAE, participated in the first G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under the South African Presidency of the G20,

U.S. Treasury Secretary Scott Bessent's absence follows a boycott of a G-20 foreign ministers meeting in South Africa by U.S. Secretary of State Marco Rubio.

South Africa's G20 presidency this year will prioritise efforts to help developing countries finance their shift to a low-carbon economy, President Cyril Ramaphosa said, even as the United States radically scales back its support.

President Cyril Ramaphosa has formally opened the G20 Finance Ministers, and Central Bank Governors' meeting in Cape Town this Wednesday 26 February.