Bessent faces G20 ‘credibility test’

US Treasury Secretary Scott Bessent's attempt to sell Washington's economic agenda at this week's G20 finance meeting will have to contend with global anxieties over US debt and the Iran war's economic fallout.

Bessent's controversial interventions of recent weeks — propping up the Japanese yen and doubling Treasury's bond purchases — have raised questions about his credibility , Bloomberg wrote, possibly undermining his efforts to sway global colleagues on issues including AI oversight and economically isolating Tehran.

Bessent will also have to cajole European officials who were outraged at Washington's decision to invite Russia's financial chief to the gathering: Germany's finance minister, who recently blamed the US' war with Iran for global bond market turmoil, said the move " sends a signal I find troubling ."