US Seeks IMF, World Bank Reforms to Reverse Institutions’ Mission Creep: Bessent

The United States will support changes to the International Monetary Fund (IMF) and the World Bank to secure economic and financial sustainability, Treasury Secretary Scott Bessent said on Wednesday. Bessent laid out his vision for the twin institutions and America’s involvement, pledging to bolster its leadership role as it pursues reforms to “restore equilibrium to the global financial system.” “America First does not mean America alone,” the Treasury chief said in prepared remarks at an April 23 event hosted by the Institute of International Finance. “We must enact key reforms to ensure the Bretton Woods institutions are serving their stakeholders, not the other way around.”...