Şimşek to attend G20 talks in US

ANKARA

Treasury and Finance Minister Mehmet Şimşek (AA Photo)

Treasury and Finance Minister Mehmet Şimşek has traveled to Asheville, North Carolina, to attend the G20 Finance Ministers and Central Bank Governors Meeting.

On the sidelines of the gathering, Şimşek is expected to hold bilateral meetings with his counterparts and the heads of international financial institutions.

The meetings, which began on Aug. 31 and will continue through Sept. 1, will address the latest assessments of the impact of geopolitical tensions on the global economy.

The global growth outlook, deepening global imbalances and rising public debt levels worldwide are also among the key items on the agenda.

But looming over the meetings is the fallout from the U.S.-Israeli conflict with Iran, alongside tighter U.S. trade barriers and questions on whether the group can still work together to address key economic challenges.

U.S. Treasury Secretary Scott Bessent skipped last year’s meeting led by South Africa, which has been excluded from the group by the U.S. Washington holds the rotating presidency this year.

Instead, U.S. officials invited Poland to the table, although it is not a permanent G20 member.

Brazil’s finance minister is shunning the gathering amid tensions with the Trump administration. A Russian representative is participating too.

Besides promoting economic growth, U.S. priorities this year include dealing with “global imbalances” and sovereign debt challenges, a senior U.S. Treasury official told reporters ahead of talks.

G20 discussions will seek to ensure economies avoid policies that push excess production and capacity into global markets, the official added.