South Africa unveils G20 report warning of global inequality crisis

A G20 report commissioned under South Africa's presidency has sounded the alarm over an escalating global inequality crisis, calling for the creation of a new international panel to guide policymaking at both national and global levels.



On Tuesday, South African President Cyril Ramaphosa received the G20 Extraordinary Committee Report on Global Inequality from Nobel Laureate Joseph Stiglitz, UNAIDS Executive Director Winnie Byanyima, and four other leading global experts of the committee at a ceremony in Cape Town.



The report, coordinated by the Extraordinary Committee of Independent Experts on Global Inequality, was commissioned by Ramaphosa as part of South Africa's G20 presidency under the theme "Solidarity, Equality, Sustainability." It warned that between 2000 and 2024, the world's top one percent captured 41 percent of all new wealth.