G20 finance ministers and central bank governors are convening in Asheville, North Carolina, with the U.S. Department of the Treasury prioritizing stronger long-term economic growth, private-sector-led demand, and the removal of structural barriers. Treasury Secretary Scott Bessent is leading the U.S. presidency's efforts to address global economic pressure points, including slow growth, government debt, financial regulation, digital assets, and international economic imbalances.
The U.S. agenda emphasizes business investment and private-sector participation. Common obstacles to growth identified by finance ministers in April included regulatory red tape, misaligned tax incentives, inadequate investment, market friction, and issues with worker skills. The U.S. presidency has also engaged directly with business leaders, with further private-sector involvement planned through the Finance Track.
A significant portion of the Asheville discussions will focus on persistent global economic imbalances, which Treasury says can distort activity and create financial vulnerabilities. The U.S. is pressing G20 members to examine underlying policies and structural issues, preparing guidance for the International Monetary Fund and the Organization for Economic Cooperation and Development to improve monitoring.
Sovereign debt transparency and faster restructuring are also key priorities. The U.S. G20 presidency collaborated with the Paris Club to develop an illustrative memorandum of understanding for the Common Framework and seeks broader G20 participation in the World Bank’s Debt Data Sharing Exercise. Financial regulation discussions aim to protect the system without hindering investment, focusing on modernization, reducing friction, and encouraging digital financial innovation, including clearer frameworks for digital assets and combating illicit finance.
Financial literacy has also been elevated on the U.S. G20 agenda, with discussions on national strategies, education best practices, and fraud prevention. The World Bank and the U.S. co-hosted a global financial literacy discussion in April, and a Solutions Sprint highlighted technology-based approaches.
For North Carolina, the Asheville meeting is expected to generate over $20 million in economic value for Asheville and Buncombe County, alongside significant earned media exposure, supporting tourism and local businesses. This event also highlights the region's ongoing recovery from Hurricane Helene, which caused over $12 billion in damage, with cumulative federal post-storm funding surpassing $5 billion.
The administration also used the meeting to showcase North Carolina's economic performance, reporting $29.2 billion in private capital investment and 42,568 new jobs since January 2025. Officials noted that real weekly wages statewide have increased 2.1% since January 2025, contrasting with a reported 4% decline during the previous administration. Unemployment in North Carolina stood at 3.6% in June, below the national average, with Asheville's rate at 3.2%.