January 23, 2021

President Ramaphosa, Sisulu and Mboweni Off to the G20 summit

The President of the country, Cyril Ramaphosa together with the ministers Lindiwe Sisulu of foreign affairs and Tito Mboweni of finance left for the 2019 summit in Japan,Osaka Wednesday.

(Photo: President Cyril Ramaphosa with Tito Mboweni after the latter’s appointment as finance minister on Tuesday, October 9, in Cape Town.  Picture: ESA ALEXANDER)

Tiyani Solly Mabunda

The G20 also called “Group of twenty” is an international forum converging governments and central bank governors where 19 countries are part. Formed in 1999, the forum aims to promote international financial stability.

This year’s summit is held in Osaka,Japan. The leaders will have two days to discuss issues of financial importance from the 28th until the 29th June. Back at home both the President and his finance minister have left huge economic perils going on the country at this period.

The economy is said to be experiencing lack of growth. On the other hand the rate of unemployment is sitting at 27.6 percent. There is over 6.20 million unemployed persons. This is reported to be the highest jobless rate since 2017. It has since escalated from 62 thousands to 237 thousands unemployed people.

It is also estimated that over 10 million people are unemployed in the country. During the Sona of 2019, the president touchedon the subject as a “national crisis”. He applauded agencies such NYDA for the much dedicated effort they are putting in to reduce youth unemployment. The YES programme also serves tje same purpose but these numbers are too high at this period. We can only hope to see positive outcomes and growth on the economy after they have returned back home from Osaka.

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