US Treasury's Bessent urges IMF, World Bank to refocus on core missions

US Plans at Restructuring May Include World Bank, IMF & UN Agencies

The US State Department, in a wide-ranging political re-structuring of its policies, will eliminate 132 domestic offices, lay-off about 700 federal workers and reduce diplomatic missions overseas. The proposed changes will also include terminating some of the funding for the United Nations and its agencies, budgetary cuts to the 32-member military alliance, the North Atlantic …

Sorry, Mr. Secretary—That’s Not an Audit

Debunking the Treasury’s Latest Claim About America’s Gold With gold soaring past $3,300, it feels like the perfect moment to revisit a topic many of us haven’t forgotten: the gold at Fort Knox—and whether it’s actually still there. And as it happens, something caught my eye that makes this question even more timely. Treasury Secretary Scott Bessent recently gave an interview with Bloomberg, where he confidently stated that there’s a report conf…

The United States is the first shareholder of the International Monetary Fund (IMF). On Wednesday, its Treasury Secretary, Scott Bessent, attacked the agency’s work and considered it over-concerned with social, climatic and gender issues and asked it to focus on its financial stability mission. On Thursday, the managing director of the IMF, picked up the glove. Kristalina Georgieva is open to incorporating the concerns expressed by the Donald Tr…

Mission creep has infected the IMF and the World Bank

The following is a transcript of a speech delivered yesterday by the Treasury Secretary Scott Bessent. In the final months of World War II, Western leaders convened the greatest economic minds of their generation. Their task? To build a new financial system.  At a quiet resort high up in the mountains of New Hampshire, they laid the foundation for Pax Americana.  The architects of Bretton Woods recognized that a global economy required global co…

US calls for sweeping reforms to IMF and World Bank - Hawaii Tribune-Herald

WASHINGTON — Treasury Secretary Scott Bessent on Wednesday called for major overhauls to the missions of the International Monetary Fund and the World Bank but said the United States remained committed to maintaining its leadership role at the global economic institutions.

Bessent tries to reassure investors amid turmoil

WASHINGTON — Treasury Secretary Scott Bessent leveled harsh criticism at the operations of the World Bank and the International Monetary Fund on Wednesday even as he tried to reassure nervous investors that the United States would maintain its global leadership…