U.S. Treasury Secretary Scott Bessent will skip next week’s meeting of finance ministers and central bank governors from the Group of 20 countries in Cape Town, South Africa, sources familiar with his plans told Reuters.
The decision to miss the regular gathering of finance leaders from the world’s largest economies is highly unusual for a U.S. Treasury secretary, as the U.S. often leads G20 agreements on financial and monetary policy matters.
One of the sources told Reuters that G20 member countries had been informed of Bessent’s decision not to attend.
A spokesperson for the U.S. Treasury did not respond to a request for comment on his plans. The New York Times first reported Bessent’s planned absence.
The G20 finance group has tackled a range of issues affecting the global economy, from fighting inflation and climate change to dealing with debt distress and trade conflicts. South Africa holds the G20 presidency from December 2024 to November 2025.
Tensions between the U.S. and South Africa have risen in recent weeks following complaints from U.S. President Donald Trump over South Africa’s land policy.
Earlier this month, Trump said that “South Africa is confiscating land” and “certain classes of people” were being treated “very badly.”
U.S. Secretary of State Marco Rubio subsequently canceled a trip to Johannesburg for a meeting of G20 foreign ministers on Thursday and Friday.
