US EditionSouth Africa launches G20 taskforce to examine global wealth inequality
The G20 taskforce, chaired by economist Joseph Stiglitz, will provide policy recommendations addressing wealth inequality's effects on poverty and economic growth.
- On Thursday, South African President Cyril Ramaphosa launched a six-member G20 experts taskforce chaired by Nobel Economics Prize laureate Joseph Stiglitz to examine global wealth inequality and present findings at the November G20 leaders' summit in Johannesburg.
- Using its G20 presidency this year, South Africa aims to spotlight problems facing poorer nations, notably rising inequality and sovereign debt burdens.
- The team includes noted experts such as Winnie Byanyima, UNAIDS Executive Director, and Jayati Ghosh, development economist, while the World Inequality Report found the poorest half owned just 2% of global wealth.
- The development plugs into ongoing debates about tax policies as nearly 140 countries backed the OECD 15-percent global minimum tax in 2021, while G20 finance ministers seek a balanced solution.
- Given the G20's economic weight, the taskforce is set to influence policy on growth, poverty and multilateralism before the Johannesburg leaders' meeting in November, with Joseph Stiglitz noting, `Inequality was always a choice — and G20 nations have the power to choose a different path on a range of economic and social policies`.
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Total News Sources18
Leaning Left3Leaning Right4Center5Last UpdatedBias Distribution42% Center
Bias Distribution
- 42% of the sources are Center
42% Center
L 25%
C 42%
R 33%
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