By Shivangi Acharya and Sarita Chaganti Singh
NEW DELHI (Reuters) – The African Union will be made a permanent member of the G20, comprising the world’s richest and most powerful countries, at the bloc’s summit in New Delhi, according to a draft declaration reviewed by Reuters.
The African Union, a continental body of 55 member states, would get the same status as the European Union – the only regional bloc with a full membership. Its current designation is “invited international organisation”.
“We welcome the African Union as a permanent member of the G20 and strongly believe that inclusion of the African Union into the G20 will significantly contribute to addressing the global challenges of our time,” the draft declaration said.
Other issues being decided on at the summit include more loans to developing nations by multilateral institutions, reform of international debt architecture, regulations on cryptocurrency and the impact of geopolitics on food and energy security.
The 38-page draft which was circulated among members left the “geopolitical situation” paragraph blank, while it agreed on the 75 other paragraphs which included climate change, cryptocurrencies and reforms in multilateral development banks.
The move was proposed by Indian Prime Minister Narendra Modi in June, and there were no objections against the move from any of the members, Reuters reported on Thursday.
The G20 currently comprises 19 countries and the European Union, with the members representing around 85% of global GDP, more than 75% of global trade and about two-thirds of the world population.
(Writing by Chris Thomas; Editing by Jacqueline Wong)
