When G20 finance ministers and central bank governors meet in Asheville, the discussion will cover some of the biggest pressure points in the global economy, including slow growth, government debt, financial regulation, digital assets and economic imbalances between countries.
For Treasury Secretary Scott Bessent and the Treasury Department, the central issue is growth.
As the United States leads the G20 presidency, Treasury is using the Finance Track to press for stronger long-term growth, more private-sector-led demand and fewer structural barriers that it says weigh on American workers, businesses and the broader global economy.
That means putting business investment and private-sector participation near the center of the U.S. agenda.
In April, finance ministers and central bank governors identified several common obstacles to growth, including regulatory red tape, tax and financial incentives that do not align with growth policies, inadequate public and private investment, internal market friction and problems involving worker skills and mobility.
The U.S. presidency has also sought more direct input from business leaders.
Private-sector representatives met with G20 deputies in May to discuss ways to encourage growth in their industries, and Treasury plans additional private-sector engagement through the Finance Track this year.
The approach reflects Treasury’s broader push for policies that encourage investment, reduce barriers to business and generate more demand from the private sector.
Another major part of the Asheville discussion will center on economic imbalances among G20 countries.
Treasury says persistent global imbalances can distort economic activity, create financial vulnerabilities and spill across borders, adding to economic tensions.
The U.S. presidency has made those imbalances a priority and is pressing G20 members to look more closely at the policies and structural issues behind them.
G20 members are preparing guidance for the International Monetary Fund and the Organization for Economic Cooperation and Development aimed at improving how those imbalances are monitored and evaluated.
Sovereign debt will be another focus, with Treasury pushing for more transparency and faster restructuring when countries run into trouble.
The U.S. wants government borrowing to be more transparent and debt restructuring to be more predictable.
As part of that effort, the U.S. G20 presidency worked with the Paris Club to develop and publish an illustrative memorandum of understanding for use under the Common Framework.
The administration is also seeking broader G20 participation in the World Bank’s Debt Data Sharing Exercise.
Treasury is taking a similar approach to financial regulation, arguing that rules should protect the financial system without creating unnecessary barriers to investment and growth.
Its priorities include modernizing financial regulation and supervision, reducing regulatory and market friction and encouraging digital financial innovation.
Digital assets are a major part of that discussion.
The Finance Track is focused on establishing clearer legal and regulatory frameworks for digital assets while also strengthening efforts against illicit finance tied to them.
Other priorities include improving cross-border payments, implementing recovery and resolution frameworks and combating fraud.
Much of that work is being carried out through the Financial Stability Board and the Financial Action Task Force.
Treasury has also made financial literacy a larger part of the U.S. G20 agenda.
Finance Track officials have discussed national financial literacy strategies, best practices for financial education and whether stronger financial knowledge can help consumers recognize and avoid scams and fraud.
The World Bank and U.S. G20 presidency co-hosted a discussion on global financial literacy during the IMF and World Bank Spring Meetings in April.
The United States also sponsored a Financial Literacy Solutions Sprint highlighting technology- and data-based approaches developed across G20 countries to expand financial education.
For North Carolina, the Asheville meeting adds a state and regional economic story to the international policy discussion.
The administration has made the case that North Carolina, and Western North Carolina in particular, has been a priority as the region continues to recover from Hurricane Helene.
The storm caused more than $12 billion in damage to homes across the state, according to figures provided by the administration.
As of early 2026, cumulative federal post-storm funding authorized for North Carolina had surpassed $5 billion.
The administration has pointed to the decision to host the G20 in Asheville as another part of that recovery effort.
The event is projected to generate more than $20 million in economic value for Asheville and Buncombe County, according to administration estimates.
Officials also expect the meeting to generate millions of dollars in earned media exposure, supporting tourism and other parts of the local economy.
Organizers have emphasized using North Carolina farms, shop owners and other small businesses in planning and supplying the event.
The administration is also using the meeting to highlight broader economic numbers across the state.
Since January 2025, North Carolina has seen $29.2 billion in private capital investment and 42,568 new jobs, according to figures provided by the administration.
Officials also say weekly earnings in North Carolina have grown faster than inflation since President Donald Trump took office.
Real weekly wages statewide have increased 2.1% since January 2025, which the administration says translates to an additional $1,224 in annual pay measured in 2025 dollars.
For blue-collar manufacturing workers, real weekly wages have increased 4.8%, equal to an estimated $2,251 more in annual pay.
That wage story is part of a contrast the administration draws with the Biden years.
It says total real weekly earnings in North Carolina fell 4% during the Biden administration, while real wages for blue-collar manufacturing workers declined 7.6%.
The administration also points to North Carolina’s employment numbers as evidence of a strong work culture across the state.
North Carolina’s unemployment rate stood at 3.6% in June, 0.6 percentage points below the national average.
In the Asheville metropolitan statistical area, unemployment was 3.2%, a full percentage point below the national average and the lowest rate since September 2024, just before Hurricane Helene hit the region.
The administration’s comparison with the previous four years also extends to household costs.
Prices for everyday goods in North Carolina rose more than 22% during the Biden administration, according to the figures provided.
Citing Congress’ Joint Economic Committee, the administration says inflation cost the average North Carolina family more than $31,111.
That total included $3,582 in additional food costs, $4,426 in additional energy costs, $6,696 in additional shelter costs and $9,798 in transportation costs.
Gasoline prices also became part of that squeeze.
Gas prices in North Carolina reached a record $4.67 per gallon on June 13, 2022. The administration says prices are now nearly 20% lower, although they remain elevated.
Housing costs rose sharply during the same period.
The median sales price of a home in North Carolina increased from $245,248 in January 2021 to $343,127 by the end of the Biden administration, an increase of roughly 40%.
Those North Carolina numbers provide a local economic backdrop for what Bessent and Treasury want to accomplish through the G20 Finance Track.
The U.S. agenda in Asheville centers on stronger growth, more private investment, fewer barriers to business, closer scrutiny of global imbalances, better debt practices, updated financial rules and broader financial literacy.
For Western North Carolina, the meeting also brings spending, exposure and another piece of the region’s continuing recovery from Hurricane Helene.
