The Global Economic Governance (GEG) Africa programme is a policy research and stakeholder engagement programme to strengthen the influence of pro-poor African coalitions at global economic governance fora.

South Africa and the G20 - Challenges and Opportunities

Daniel Mminele, Deputy Governor of the South African Reserve Bank Daniel Mminele, Deputy Governor of the South African Reserve Bank

  • Location: Southern Sun Pretoria, Cnr. Steve Biko (Beatrix) and Pretorius Streets, Arcadia, Pretoria

Although the G20 faces numerous challenges and limitations, it remains a pivotal body in advancing global economic governance, and holds significant opportunities for South Africa. This was the message of Deputy Governor of the South African Reserve Bank, Daniel Mminele, in his keynote address to the South African Institute of International Affair's G20 Study Group. The Deputy Governor provided a comprehensive overview of the G20 and South Africa's role in the global body, and gave an insider's view of the future challenges and opportunities awaiting the G20. His speech can be accessed at the end of this article.

Mr. Mnimele's contributions were joined by inputs from a range of global experts, including Adriana de Queiroz of the Brazilian Centre for International Relations, Andreas Frytag of the Friedrich-Schille University, and Alex Alexandroff from the University of Toronto.

The experts highlighted the diversity of views on the G20 across the world. There is growing discontent in Brazil over the capacity of the G20 to deliver results, particularly given the lack of BRICS influence on G20 discussions. Germany, like much of crisis-hit Europe, is increasingly inward-looking, but remains confident in the effectiveness of the G20 as a tool for international cooperation and coordination.

The view from North America was one of optimism in the value of the G20 process, given the size and prominence of negotiations, but growing skepticism over the ability of the G20 to tackle crisis management, particularly given the tendency of crises to derail broader policy discussions.

The expert's presentations were followed by a discussion with the large and active group of participants. Topics ranged from questions on American quantitative easing and Chinese currency management, to South Africa's role in Africa and as a representative of the continent in global fora, as well as on issues of regional integration and global financial regulation.

Event details

Organized by the South African Institute of International Affairs and the International Development Law Unit in the Centre for Human Rights at the University of Pretoria.

Time: 14h00 (registration) 14h30 - 17h30, followed by a cocktail reception.

To facilitate a frank dialogue, this workshop will take place under the Chatham House Rule, a morally binding convention which allows all or part of a meeting to be held 'off the record'. In addition 'Information gleaned under the Chatham House Rule may be reported [if so agreed], but the identity or affiliations of speakers must not be disclosed.'

PROGRAMME

14h30 – 14h35 Welcome

Kuseni Dlamini, SAIIA Council member

14h35 – 17h15: Panel Discussion - South Africa and the G20 - Challenges and Opportunities

Moderator: Kuseni Dlamini, SAIIA Council member

Speaker: Mr. Daniel Mminele, Deputy Governor of the South African Reserve Bank (SARB)

Discussants: Dr S Narayan, Center for Asia Studies, India

Ms Adriana de Queiroz, Brazilian Center for International Relations

Dr. Andreas Freytag, Friedrich-Schiller-University, Jena, Germany

17h15 Concluding remarks

Peter Draper, South African Institute of International Affairs

Panellist Biographies

DANIEL MMINELE was appointed Deputy Governor of the South African Reserve Bank on 01 July 2009. He is responsible for the Financial Markets, National Payments System, Human Resources and Corporate Services Departments of the Bank. Mr Mminele serves as a member of the Governors' Executive Committee, the Monetary Policy Committee, and the Financial Stability Committee of the SARB. He is chairperson of the Reserves Management Committee and serves as the chairperson of the board of two subsidiaries of the Bank, namely the Corporation for Public Deposits (CPD) and the SA Mint Company (Pty) Limited (SA Mint). Prior to his appointment as Deputy Governor, between 2003 and 2009, Mr. Mminele held the positions of Head of Financial Markets Department and Executive General Manager.His experience before joining the South African Reserve Bank covered various positions in the private banking sector in Germany, the United Kingdom and South Africa.

KUSENI DLAMINI is a South African Businessman. He was the Chief Executive Officer of Old Mutual's Emerging Markets, from 1 September 2009 until January 31, 2012. He is the former Head of Anglo American South Africa and a member of the Executive Committee of Anglo America plc (2008-2009), held the position of Executive Chairman of Richards Bay Coal Terminal Company (RBCT), and a number of senior positions at Anglo Gold Ashanti and De Beers Consolidated in South Africa and the United Kingdom. Mr. Dlamini graduated cum laude from the University of Natal with a Bachelor in Social Science Honours degree and was a Rhodes Scholar at Oxford University where he read for his MPhil. In 2008, he was selected as one of the 'Young Global Leaders' by the World Economic Forum. Mr. Dlamini is active in professional bodies which include the South African Institute of International Affairs and the Advisory Board of Wits Business School.

DR S NARAYAN is President of the Center for Asia Studies, India, a policy think-tank based in Chennai, India, and Chairman of Lakshmi Vilas Bank, a large private retail bank in India. He is also professor at Indira Gandhi Open National University, New Delhi. He spent nearly four decades in public service in development administration in the state and central governments in India, starting in 1965. His last appointment was Economic Adviser to the Prime Minister (2003-2004). Prior to his appointment as Adviser, he was the Finance and Economic Affairs Secretary, and Secretary in the Departments of Revenue, Petroleum, Industrial Development and Coal since 1997. As the Secretary for Petroleum and Natural Gas, he was responsible for policy formulation and implementation in the hydrocarbon sector. In the Ministry of Finance, his responsibilities included formulation of macro-economic policy for the government, tariff and taxation policies as well as initiatives for modernising capital markets. His special interests include public finance, energy policy, governance issues and international trade. He obtained his PhD from the Indian Institute of Technology in New Delhi. He has a MPhil (Development Economics) from Cambridge University and a Master of Business Management (Finance) from the University of Adelaide. He graduated with MSc (Physics) from the University of Madras (Madras Christian College).

ADRIANA DE QUEIROZ is the Executive Coordinator at the Brazilian Center for International Relations - CEBRI. She is responsible for a broad range of projects including international trade, development, international cooperation, energy, environment, integration and global governance, financed by multilateral and US, German, Swiss and British governments and/or organizations. Before joining CEBRI she worked as Co-Advisor to the Economic Advisory Department and to the International Relations Council at the Federation of Industries of Rio de Janeiro (2000-2002, Brazil); was Research Assistant of CEPAL - Economic Commission for Latin America and the Caribbean, in the Project "Analysis of Privatization, Merger & Acquisitions in MERCOSUR countries" (1999, Brazil); was Research Assistant in both the Poverty and Inequality; and Education, Income and Consumption Divisions of IPEA - Institute of Applied Economic Research (1997, Brazil).

DR. ANDREAS FREYTAG is Professor of Economics at the Friedrich-Schiller-University Jena; Honorary Professor at the University of Stellenbosch; a Senior Research Fellow at ECIPE, Brussels; and a Senior Research Associate at the South African Institute of International Affairs where he was also the 2008 Bradlow Fellow. He has worked at the Kiel Institute for World Economics; the Universities of Cologne and Cambridge; and the Bank of Estonia. He has taught at the Estonian Business School and the Tallinn University of Technology, where he has been a Visiting Professor since 2003. He was a member of the executive board of the European Public Choice Society from 2006 to 2009 and has long been associated with the G8 Research Group at the University of Toronto. He is a specialist in international relations, development policy and monetary policy. Freytag has published a number of books and articles on (international) monetary policy, international trade and competition policy, development economics and international policy coordination. He has also been consultant to the OECD, the European Commission and several government agencies and private groups in Germany.

PETER DRAPER is Senior Research Fellow in the Economic Diplomacy programme at the South African Institute of International Affairs. His other domestic affiliations are: Adjunct Professor at Wits Business School and Senior Consultant to the India, Brazil, and South Africa think tank consortium at the Centre for Development and Enterprise. His current international affiliations include: board member of the Botswana Institute for Development Policy Analysis; non-resident senior fellow of the Brussels-based European Centre for International Political Economy; and vice-chair of the World Economic Forum's Global Agenda Council on Trade. He holds a Master of Commerce degree from the University of Natal (now University of KwaZulu-Natal).

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