G20, a privately owned intergovernmental forum founded in 1999 and headquartered in Germany, comprises 19 countries and the European Union. Its purpose is to facilitate discussion and cooperation among member entities on key global economic issues, including international financial stability, climate change mitigation, and sustainable development.
On August 18-20, Wang Yi, a member of the Political Bureau of the CPC Central Committee, Minister of Foreign Affairs, and China's Special Representative on the China-India boundary question, visited India to hold the 24th round of talks with Indian representatives on the boundary question. The government ended the fiscal soundness policy maintained by the previous administration with the approval of the 2026 budget plan on August 29. This plan increased total expenditure to 728 trillion won, an 8.1% rise from the current year, leading to a projected 142 trillion won increase in national debt next year and a national debt-to-GDP ratio of 59% by 2029. Separately, Doppler Finance, an XRPfi protocol, announced a $3 million seed funding round led by Reforge, with participation from several investors including G-20 Group. In South Africa, Deputy Minister of Electricity and Energy Samantha Graham-Mare highlighted women's roles in shaping the future of energy at a G20 Energy Transition Working Group event in August. A report from July 17, 2025, indicated that 3.4 billion people reside in countries where debt interest payments exceed spending on health or education.
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