In a significant move, G20 finance ministers emphasise the need for central bank independence, countering US President Trump's ongoing criticisms of Federal Reserve leadership. This consensus marks a pivotal moment for global economic stability as the bloc navigates trade tensions.

Finance chiefs from the Group of 20 countries stressed the importance of central bank independence while pledging to boost cooperation in a joint statement issued on Friday after a two-day meeting in South Africa.

Finance chiefs of G20 countries expressed optimism for an agreement on a common position on trade and other global challenges on Friday despite U.S. President Donald Trump's tariffs which have overshadowed their meeting.