South Africa’s budget announcement by the finance minister has been abruptly canceled and rescheduled for next month over a dispute among parties in the governing coalition.

South Africa's national budget was postponed on Wednesday because the two biggest parties in the ruling coalition disagreed over raising value-added tax, an unprecedented delay that caused the rand and government bonds to fall.

South Africa’s ruling coalition, made up primarily of the African National Congress and the Democratic Alliance, is showing signs of a possible crack in its government of national unity.

The Treasury secretary is the second top U.S. official not to attend the Group of 20 gatherings because of rising tension with South Africa over its land policies.

South Africa's President Cyril Ramaphosa opened on Thursday a Group of 20 foreign ministers meeting with a call for "cooperation" amid geopolitical tensions and "rising intolerance".Top diplomats from the world's largest economies gathered in Johannesburg for the two-day talks held for the first time in Africa and overshadowed by the absence of US Secretary of State Marco Rubio.