US EditionUS Treasury's Bessent urges IMF, World Bank to refocus on core missions
- Treasury Secretary Scott Bessent leveled criticism at the IMF and World Bank on Wednesday in Washington.
- Growing US-China friction and aggressive trade policies contribute to global economic uncertainty impacting these institutions.
- Bessent argued the institutions neglected macroeconomic stability and development by straying into social issues like climate change.
- He stated, "America first does not mean America alone," urging allies to support needed reforms.
- He called for reforms to ensure institutions serve stakeholders, maintaining the United States leadership role without advocating withdrawal.
167 Articles
167 Articles
Readout from Secretary of the Treasury Scott Bessent’s Meeting with Finance Minister Katsunobu Kato of Japan
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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…
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 …
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…
iosconews.com
US Treasury chief raised 'important issues' in IMF criticism: Georgieva
US Treasury Secretary Scott Bessent's criticism of the International Monetary Fund raised "a number of important issues" to grapple with, the head of the Washington-based institution said Thursday.
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…
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