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International Business Times
International Business Times
Business

Bessent Acknowledges The World Is 'Awash In Debt,' Claims Only Way Past Is 'To Grow Our Way Out'

Scott Bessent Joe Biden G20 Asheville North Carolina the G20 summit
Treasury Secretary Scott Bessent said the world is "awash in debt" and economies need to "grow their way out" of the issue. (Credit: Getty Images)

Treasury Secretary Scott Bessent said the world is "awash in debt" and economies need to "grow their way out" of the issue.

"Our goal here today is to reiterate that our message of growth. The world is awash in debt post [global financial crisis], post Covid, and the only way for us to get out of this is to grow our way out of this, Bessent said during the G20 Summit in Asheville, North Carolina. "I'm confident that a lot of the leaders are very receptive to this," he added.

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