President Cyril Ramaphosa also called for increased funding to help developing countries combat climate change. The US has now skipped two G20 meetings in a row.

Finance ministers and central bank chiefs from the Group of 20 developed and developing nations have gathered in South Africa for a two-day meeting.

South Africa's G20 presidency this year will prioritise efforts to help developing countries finance their shift to a low-carbon economy, President Cyril Ramaphosa said, even as the United States radically scales back its support.

President Cyril Ramaphosa has formally opened the G20 Finance Ministers, and Central Bank Governors' meeting in Cape Town this Wednesday 26 February.