Brazil to promote foreign policy during G20 presidency
Brazil should leverage its G20 presidency this year to advance its foreign policy goals, including advocating for a reform of the International Monetary Fund (IMF) and solidifying its position as a leader in combating climate change and transitioning to renewable energy sources.
The G20 is widely regarded as the primary global forum for discussions on finance and economy, and it has been identified as a key priority on the Brazilian government's international agenda.
For the first time in history, Brazil, as the bloc's president, is hosting the G20 meetings, which commence on Thursday (Jan. 18).
Approximately 120 events are scheduled throughout the year leading up to the final summit of G20 heads of state, set to take place on November 18 and 19 in Rio de Janeiro.
Established in 1999 to coordinate responses to financial crises affecting countries such as Mexico and South Korea, the G20 gained greater prominence following the 2008 financial crisis. It currently comprises the 19 largest economies globally, along with the European Union and the African Union, which joined the group last year. The G20 now involves approximately 100 nations.
Priorities
In its G20 presidency, Brazil has outlined three key priorities: combating hunger, poverty, and inequality; advancing the three dimensions of sustainable development (economic, social, and environmental); and reforming global governance.
During his address to the UN General Assembly in September 2023, President Lula advocated for the reform of the IMF and the World Bank.
"Last year, the IMF allocated $160 billion in special drawing rights to European countries, compared to only $34 billion to African countries. The unequal and distorted representation at the helm of the IMF and the World Bank as unacceptable,” President Lula criticized.
Climate change
Another priority for Brazil is the energy transition. Roberto Menezes, a professor at the University of Brasília (UnB), suggests that Brazil should advocate for easier access to climate fund resources.
"There are four global funds, totaling around $11 billion, specifically designated for financing climate change mitigation. Brazil's stance is that while the funds exist, accessing them is very challenging," he explained.
The significance of this issue is further emphasized by the fact that Brazil's G20 presidency concludes shortly before the country hosts the 2025 UN Climate Change Conference (COP30) in Belém, in the Brazilian northern region.
Social G20
Brazil has also prioritized promoting the participation of civil society in the G20, which will include an exclusive summit for organized civil society, which should take place before the heads of state summit.
Tatiana Berringer, responsible for coordinating the civil society debate on the group's financial issues, aims to broaden the discussion to include society at large.
"It's our priority to explain the financial issues, which are the hard core of the debate, to the population, civil society, popular movements, and non-governmental organizations, in a clearer way. This includes illustrating how these decisions and discussions impact everyday life," stated the Ministry of Finance representative.
