U.S. Treasury Secretary Scott Bessent is reportedly not attending the upcoming meeting of finance ministers and central bank governors from the Group of 20 countries in Cape Town, South Africa, according to sources familiar with his plans. The decision to miss this gathering, where the U.S. typically plays a leading role in shaping financial and monetary policies, is considered highly unusual for a U.S. Treasury secretary. G20 member countries have been notified of Bessent's absence. The U.S. Treasury spokesperson declined to comment on his plans, as initially reported by The New York Times.

The G20 finance group addresses various global economic issues such as inflation, climate change, debt distress, and trade conflicts. South Africa holds the G20 presidency from December 2024 to November 2025. Recent tensions between the U.S. and South Africa have escalated due to U.S. President Donald Trump's criticisms of South Africa's land policy, alleging confiscation of land and mistreatment of certain groups.

Amid these tensions, U.S. Secretary of State Marco Rubio will represent the U.S. at a meeting of G20 foreign ministers on Thursday and Friday.