CAPE TOWN, South Africa: An international summit on global poverty faced setbacks this week as key finance leaders skipped the G20 meeting in Cape Town, raising doubts about the group's ability to make meaningful progress.

The two-day event—which South Africa had hoped would drive discussions on climate finance, economic reform, and inequality—was overshadowed by major foreign aid cuts and the absence of several finance chiefs. The United States, China, Japan, India, and Canada were among the notable no-shows, while some attendees left early.

The meeting took place amid significant reductions in international aid. The Trump administration announced major cuts to USAID, while Britain slashed its aid budget by 40 percent, diverting funds toward defense spending. These moves signal a shift away from global poverty alleviation, further complicating efforts to secure commitments from the world's wealthiest nations.

"The absence of key officials at the G20 finance meetings further underscores the diminishing commitment to global poverty reduction at a time when it's needed most," said Dirk Willem te Velde, Director of the International Economic Development Group at ODI Global. He called the aid cuts "devastating news" for vulnerable nations.

South African President Cyril Ramaphosa urged G20 members to prioritize cooperation, warning that the ambitions of powerful nations must not come at the expense of the world's most vulnerable.

"It is now more important than ever that the members of the G20 work together," Ramaphosa said.

The G20, originally formed after the 1999 Asian financial crisis to enhance global economic cooperation, represents 85 percent of global GDP and 75 percent of international trade. However, recent fractures over trade policies, the Ukraine war, and climate change have weakened its unity.

Some analysts now question whether the absence of the United States—the world's largest economy—diminishes the G20's relevance. Others believe it could be an opportunity for developing nations to advance on key issues.

"There could very well be synergies between large portions of what's left by excluding the U.S. on particular issues," said Daniel Silke, director of the Political Futures Consultancy.

South Africa had aimed to use the G20 platform to pressure wealthier nations to contribute more toward climate change adaptation and green energy transitions. However, concerns over Trump's climate skepticism and shifting global priorities could slow these efforts.

Energy Minister Kgosientsho Ramokgopa acknowledged that Trump's stance would "reconfigure the conversation" around green energy, adding that some nations might reconsider the scale and pace of their transition away from fossil fuels.