Brazil ended its presidency of the G20 in November 2024, transferring leadership to South Africa within the group’s troika model. Under the presidency of Luiz Inácio Lula da Silva, Brazil faced significant challenges in an uncertain international context. As a forum for economic and political cooperation, the G20, although informal, is one of the few multilateral spaces capable of pushing forward major global agendas and policies. Created to reform the international financial architecture, the group rose to prominence in response to the financial crises of the 1990s and 2000s, especially that of 2008. Today, its agenda has expanded, but financial reform remains central, with the goal of enabling resources to combat climate change, hunger and inequalities, as proposed by the Brazilian presidency.