Bessent at G20: growth key to solving debt crisis

Investing.com -- U.S. Treasury Secretary Scott Bessent told finance leaders from the Group of 20 nations that economic growth is the solution to global debt problems as their meeting began in Asheville, North Carolina on Monday.

Bessent said his message to the gathering focused on growth as the path forward for countries struggling with high debt levels accumulated after the global financial crisis and the COVID-19 pandemic.

"The world is awash in debt post GFC, post COVID, and the only way for us to get out of this is to grow our way out of this," Bessent said.

The Treasury Secretary said he believes many leaders at the two-day meeting are open to this approach.

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