U.S. Treasury Secretary Scott Bessent will not attend next week’s G20 finance ministers and central bank governors meeting in Cape Town, South Africa, according to sources familiar with his plans.
His absence from the high-profile gathering of the world’s largest economies is highly unusual, as the U.S. traditionally plays a leading role in shaping G20 financial and monetary policy discussions.
One source confirmed that G20 member nations had been informed of Bessent’s decision. However, the U.S. Treasury Department declined to comment, and the New York Times first reported his planned absence.
The G20 finance group is set to address key global economic challenges, including inflation, climate change, debt crises, and trade disputes. South Africa holds the G20 presidency from December 2024 to November 2025.
Tensions between the U.S. and South Africa have escalated in recent weeks, following remarks by U.S. President Donald Trump criticizing South Africa’s land policies.
Earlier this month, Trump claimed that “South Africa is confiscating land” and that “certain classes of people” were being treated unfairly.
In response to rising diplomatic friction, U.S. Secretary of State Marco Rubio also canceled his trip to Johannesburg for the G20 foreign ministers’ meeting scheduled for Thursday and Friday.
-reuters