The G20@20 Review Final Report has been published under the responsibility of South Africa’s 2025 G20 Presidency, marking a major milestone as the G20 completes its first full cycle of Presidencies since its elevation to a Leaders’ level forum in 2008.
The Review was commissioned following the agreement reached by G20 Leaders in the 2024 Rio de Janeiro Declaration, which called for an assessment of the G20’s evolution, effectiveness and impact since 2008, as well as recommendations to guide the forum’s second cycle of Presidencies, beginning under the leadership of the United States in 2026.
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Undertaken by South Africa’s 2025 G20 Presidency, the G20@20 Review draws on extensive inputs, including an electronic survey, Sherpa-level discussions, written submissions from Members and Guest countries, and insights from an Advisory Panel. This inclusive approach ensured that a wide range of perspectives was captured, reflecting the diversity of the G20’s membership.
The Review finds that the G20 enters its second cycle against a far more complex and fragmented global backdrop. Global economic growth remains below pre-2008 levels, public debt has reached historic highs, and geopolitical tensions have intensified, constraining consensus-building and collective ambition. Against this backdrop, the Review underscores that a well-functioning G20 is more necessary than ever to enable effective coordination on shared global challenges.
Importantly, the G20@20 Review confirms that the G20 continues to matter. Members consistently reaffirm the forum’s central role in strengthening multilateralism and international co-operation. By convening the Leaders of the world’s major economies, the G20 has enabled decisive joint action during crises, addressed long-term structural challenges, and enhanced resilience to emerging global risks.
The Review reaffirms that the G20 should remain the world’s premier forum for international economic co-operation. Members agree that the vision set out at the 2009 Pittsburgh Summit—anchored in the pursuit of strong, sustainable, balanced and inclusive growth—remains relevant and should continue to guide the G20’s work in its second cycle.
Central to the G20’s effectiveness is its Leader-led and informal character. The Review confirms strong Member support for maintaining the G20 as an informal, consensus-based forum without a charter, treaty or permanent secretariat. Leaders’ Summits are highlighted as the most valuable component of the G20 process, providing a trusted space for frank and informal exchanges that build confidence and enable meaningful progress.
The Review also notes that the G20 has been at its most effective during periods of global crisis. Coordinated action during the 2008–09 Global Financial Crisis and the COVID-19 pandemic helped avert deeper economic downturns. Key outcomes—including coordinated fiscal stimulus, the establishment of the Financial Stability Board, the creation of the Pandemic Fund, and initiatives such as the Debt Service Suspension Initiative and the Common Framework for Debt Treatments—demonstrate the G20’s capacity to deliver timely and impactful responses.
The G20@20 Review Final Report is intended to support Members as they shape the G20’s second cycle of Presidencies, ensuring the forum remains fit for purpose and capable of delivering effective, coordinated action in a rapidly changing global environment.
The full report can be read and downloaded at:
https://www.gov.za/sites/default/files/gcis_document/202512/g20-final-report.pdf