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What to Expect from Brazil's G20 Presidency

The Brazilian Report

Brazil is taking over the G20 presidency for 2024. The Lula government says it is a "unique opportunity for the sustainable development agenda"

The stars have aligned to put the Brazilian government in the spotlight on the global stage. By the time President Luiz In谩cio Lula da Silva finishes his term in 2026, Brazil will have held the rotating presidencies the Mercosur trade alliance, the BRICS group of developing nations, and the Group of 20 (G20), as well as hosting the UN Climate Change Conference (COP) in late 2025. Brazil officially ; on Friday, a task that will conclude with a summit in Rio de Janeiro in late 2024.听

The G20 is the main forum for economic cooperation and dialogue among the world鈥檚 leading economies, although membership has not been updated to keep pace with their performance鈥攁ccording to the latest International Monetary Fund Australia and Argentina should be out, and Iran and Egypt in.

Brazil pushed back its BRICS leadership to 2025 to avoid accumulating both roles in the same year, a sign that it has big plans for both. Back in January, Finance Minister Fernando Haddad said "so that we can do a good job in every opportunity that presents itself."

The G20 currently consists of 19 countries (including all members of the G7) plus the European Union and the African Union. Including the latter two, the G20 represents about 85 percent of global GDP, 75 percent of global trade, and two-thirds of the world鈥檚 population.

Lula was an early enthusiast of the G20. In 2008, after a summit in Washington that marked the first time G20 leaders met at the level of heads of government, and that he was "satisfied and optimistic" about its results.

It's easy to see why. Celso Amorim, now Lula's top foreign policy adviser and then Brazil's foreign minister, also said in 2008 that the most important takeaway was that the G20 was replacing the G8 (which then included Russia) and that a "tectonic shift" was taking place in global geopolitics.

The growing importance of the G20 represented a shift toward in which countries such as Brazil would have a greater say.听

While the G7 (which expelled Russia in 2014 over its annexation of Crimea) excludes developing countries, the G20 includes many of them, such as the founding members of the BRICS group.

Brazil鈥檚 partners in BRICS share this understanding. The issued at a summit in South Africa in August, states that the member countries 鈥渞eaffirm the importance of the G20 to continue playing the role of the premier multilateral forum in the field of international economic and financial cooperation that comprises both developed and emerging markets and developing countries.鈥澨

An ambitious agenda

Founded in 1999 as a forum for finance ministers, the G20 first met at the level of heads of government in the wake of the 2008 Lehman Brothers crisis. Outgoing US President George W. Bush hosted what was ambitiously dubbed 听

The group鈥檚 agenda gradually expanded to include issues such as the war in Syria, the environment, women's empowerment, and health policies.

Brazil takes over the G20 presidency while the Inter-American Development Bank (which is headed by a Brazilian) is The government says both things create a "unique opportunity for the sustainable development agenda."

During COP 28 in Dubai, the IDB announced its commitment to triple funding for projects that address climate change, to disburse with the aim of disbursing USD 150 billion over the next decade for projects that have a positive environmental impact.

Brazil also has big plans for its G20 presidency in 2024. A says the country expects to hold more than 100 meetings in cities in all of its five regions.听

Federal officials have emphasized to The Brazilian Report that the government plans to hold meetings throughout the country, not just in Rio de Janeiro鈥攁 traditional for global meetings in Brazil.听

Rio will host the summit of heads of state and government that concludes the G20 presidency, but ministerial and other lower-level officials will meet in other parts of the country throughout the year. But that hasn't stopped Rio de Janeiro's mayor, Eduardo Paes, from

In line with his previous speeches in international fora since his first stint as president (2003-2010), Lula听 during the G20 presidency.

Brazil鈥檚 agenda for the G20 includes priority issues for the Lula administration, namely:听

  • The fight against hunger, poverty, and inequality;
  • The three dimensions of sustainable development (economic, social, and environmental);听
  • Reform of the听 system.

The G20 agenda is traditionally organized into two 鈥渢racks,鈥 the Finance Track and the Sherpa Track. The former is led by finance ministers and central bank governors, while the latter is led by 鈥渟herpas鈥濃攇uides personally appointed by G20 leaders.

The Sherpa Track consists of 15 working groups, two more than during India鈥檚 presidency. Brazil added a group on women's empowerment and moved research and innovation to a group of its own. Brazil鈥檚 sherpa for the current G20听, the secretary for economic and financial affairs at the Foreign Affairs Ministry.

Brazil's Finance Track coordinator is Tatiana Rosito, also a career diplomat, currently serving as secretary of international affairs in the Finance Ministry. One of the track's working groups focuses on international financial architecture, an important issue for the Lula administration. During the recent BRICS summit in Johannesburg, Lula was the only one of the five main leaders听 for trade among its members in his speech.

Reducing dependence on the US dollar has been a major talking point for Lula. As听The Brazilian Report revealed, records of a听 and leaders of Brazil鈥檚 top public banks show that a Brazilian federal agency will use a Russian ruble account in upcoming deals, while Sberbank will use an account in Chinese yuan.

Finally, Brazil鈥檚 presidency added the G20 Social, announced as a 鈥渟pace for participation and contribution of civil society in discussions and policy formulation related to the Summit.鈥 Think tanks, NGOs, startups, and courts, among others, will be invited to attend.

The final G20 summit in Rio will take place on November 18鈥19, 2024, just after the US presidential election鈥攂y which time Joe Biden will either be a lame duck or recently re-elected. Given that听 on many issues, the outcome of the summit will also depend on the outcome of the election.

This text is part of G20 Dialogues, a project of听the Brazil Institute at the Woodrow Wilson Center in partnership with The Brazilian Report. Through live broadcasts, articles, and events, we will analyze Brazil's challenges and actions at the helm of the G20.


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The Brazilian Report

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Brazil Institute

The Brazil Institute鈥攖he only country-specific policy institution focused on Brazil in Washington鈥攁ims to deepen understanding of Brazil鈥檚 complex landscape and strengthen relations between Brazilian and U.S. institutions across all sectors.听 Our mission is to provide thoughtful leadership and innovative ideas to help democracies evolve and enhance their capacity to deliver results. We achieve this by producing independent research and programs that bridge the gap between scholarship and policy, while serving as a hub for policymakers, scholars, and private sector leaders.听  Read more