This week, Ireland’s Minister for Finance, Paschal Donohoe T.D., is attending crucial international finance meetings in Cape Town. Donohoe will represent Ireland at the inaugural meeting of the G20 Finance Ministers and Central Bank Governors under South Africa’s G20 Presidency. This meeting, scheduled for February 26-27, 2025, is significant as Ireland has been invited to join the G20 for the first time during South Africa’s presidency, which lasts until November 2025.
Donohoe will be joined by Gabriel Makhlouf, Governor of the Central Bank of Ireland. This marks a milestone in Ireland’s diplomatic and financial engagement with the world’s largest economies, as the G20 covers 85% of global GDP, more than 75% of global trade, and two-thirds of the global population.
In addition to his G20 participation, Donohoe will attend the G7 Finance Ministers meeting on February 27 in his role as President of the Eurogroup. The discussions will focus on macroeconomic cooperation, international financial architecture, sustainable finance, taxation, and financial inclusion.
During the trip, Donohoe will hold bilateral talks with international counterparts and address an event in Cape Town hosted by Ireland’s Ambassador to South Africa, where he will engage with the Irish community and key figures from South Africa’s political, business, and cultural sectors.
Ahead of his departure, Minister Donohoe expressed his commitment to Ireland’s active role in the G20, stating, “Ireland is determined to make a full contribution during our G20 membership. I am grateful to our South African hosts for their invitation, reflecting both our excellent bilateral relationship with them and Ireland’s strong belief in a rules-based international order.”
The G20 Finance Ministers and Central Bank Governors will meet again in April, July, and October 2025.
About the G20:
The G20, founded in 1999 after the Asian financial crisis, is a forum comprising 19 countries, the European Union, and the African Union, addressing global economic and financial stability. The forum represents the world’s largest economies and serves as a platform for collaboration on international economic issues.
Paschal Donohoe Picture by Bundesministerium für Finanzen on Wikimedia CC BY 2 0
