Lessons from the Frontlines : What I Learned from My Participation in the G20

It is a rare privilege for an academic who has specialized in international economic institutions to get a chance to put what he researched into practice. I had this privilege when I became the first head of the South African Reserve Bank's (SARB) new International Economic Relations and Policy Department. In this capacity, I represented the SARB in G20 and BRICS meetings during my approximately two years with the Bank, which concluded at the end of October 2014. My department was responsible for coordinating the SARB's relations with the IMF.This article is my first attempt to reflect on the lessons I learned about the G20 and its relations with the countries and entities that participate in its meetings. It is divided into four sections. First, I will give a brief overview of the G20 process in order to put my experience and the lessons I learned into context. Second, I will discuss seven lessons I learned about global economic governance from the experience. Third, I will make three general observations about the G20 process. The final section is a conclusion. Two caveats are in order. First, this article contains my personal reflections on the G20 and all the opinions expressed in the article are my own. Nothing that is stated in the article should be attributed to the SARB or the South African Government. Second, central banks participate in all the meetings of the Finance Ministers and Central Bank Governors leading up to the G20 Summit, but they do not participate in the G20 Summit itself or in the meetings of the G20 Sherpa track. My reflections and opinions, therefore, are based only on my experience as a participant in the G20 Finance track meetings