The Group of 20 major economies has been instrumental in coordinating the response to crises like the COVID pandemic. But top officials from the U.S. and several other member states skipped the G20 finance ministers’ meeting in South Africa this week, raising questions about the group's continued relevance in a splintered global environment.

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.

A meeting of finance ministers and central bankers from the Group of 20 nations in South Africa failed on Wednesday to come up with a joint communique, with a "chair's summary" issued by the host reiterating a commitment to resisting protectionism.