Russia’s G20 Sherpa: It is important to reshape G20’s work to reflect interests of developing economies

The forthcoming summit of the Group of Twenty (G20) in Johannesburg is of significant importance, as this year marks the end of a cycle of presidencies and the forum effectively sums up almost two decades of work. As noted in an exclusive comment for TV BRICS by the Sherpa of the Russian Federation in the Group of Twenty, Svetlana Lukash, it is especially significant for Russia and its BRICS partners that over the past four years the G20 presidency has consecutively been held by BRICS members – Indonesia, India, Brazil, and South Africa.

Lukash emphasised that this year the summit places special attention on the sustainable development agenda, with a focus on the interests of the African continent. Russia, according to her, shares all the priorities outlined by the South African presidency and is ready to fully contribute to the success of the summit.

The Russian Sherpa drew attention to changes in the work of the G20.

“Over the past four years, our partners have not only hosted summits and welcomed large delegations. Crucially, work was carried out that enabled the complete reformatting of the Group of Twenty in terms of reflecting the interests of developing economies,” she noted.

She recalled that for many years the G20 agenda was influenced by the Western economic agenda.

“Partly this was justified, because the ‘Group of Twenty’ emerged in the wake of a crisis, and since the crisis began precisely in the Western financial markets, naturally, we dealt with the problems and side effects of a certain incorrect macroeconomic policy [...] But over time, [...] the imbalance in taking into account the interests both of the BRICS partner countries and, more broadly, of the countries of the Global South, which are not even members of the Group of Twenty, became evident. And over the past four years, in fact, the role and the voice of our friendly partners in this respect have significantly increased,” she noted.

The expert also emphasised that the G20 has already adopted decisions aimed at maintaining resilience and reducing undue or excessive burdens on low- and middle-income countries arising from policies in Western capital markets. And the Russian side expects that the summit in Johannesburg will adopt decisions that will allow the resumption of agreements within the framework of the International Monetary Fund (IMF) with renewed strength.

“The Sustainable Development Goals – the most anticipated priority that will also be discussed at the summit in Johannesburg – are indeed key. Firstly, it is important that in recent years the Group of Twenty has clearly stated that the SDGs must be considered in an interconnected manner. We cannot, for instance, discuss climate change or the need for action in this area while overlooking issues related to eradicating hunger and poverty,” Lukash added.

In the context of the energy transition, another important topic of discussion at the upcoming summit, the Russian side supports the principle of technological neutrality. Russia advocates the role of natural gas and peaceful nuclear energy as accessible means for the transition to clean energy.

The TV BRICS International Media Network is an officially accredited media outlet at the G20 summit in Johannesburg, which will take place this year on 22–23 November.

Photo: Minerva Studio / iStock