US Treasury Secretary Scott Bessent has expressed renewed support for the International Monetary Fund (IMF) and the World Bank, describing their current direction as “constructive.”
Speaking on the sidelines of the Spring Meetings in Washington, Bessent noted that both institutions are now making progress and returning to their core mandates after facing criticism in the past. (The Times of India)
He highlighted the IMF’s role in stabilising economies, including efforts to reintegrate countries like Venezuela, while praising the World Bank’s renewed focus on energy access and poverty reduction.
The remarks mark a shift from his earlier stance, where he criticised both institutions for focusing too heavily on social and climate issues rather than economic growth.
Bessent now says recent reforms signal a positive turnaround, with both organisations aligning more closely with their foundational goals.
