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.

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.

Johannesburg, Feb 27 (PTI) Erosion of multilateralism presents a threat to global growth and stability, South African President Cyril Ramaphosa said and called for a rules-based order for economic stability, sustained growth, for managing disputes and resolving global conflict.