Speaking before the Institute of International Finance, the Secretary of the Treasury, Scott Besent, level the criticism of the World Bank and the International Monetary Fund, urging them to “return to the basics” in their approach as financial institutions, but also offered support, emphasizing the desire of the United States to continue their leadership role.
“America first does not mean only the United States alone. On the contrary, it is a call to a deeper collaboration and mutual respect among commercial partners,” Besent said. “Far from going back, the United States first seeks to expand American leadership in international institutions such as IMF and World Bank.”
The United States commitment to institutions is remarkable, since some feared that the United States could move away from the IMF and the World Bank under President Donald Trump.
“The IMF has suffered a mission sprinkler,” Besent said as he criticizes the IMF and the World Bank.
The Treasury Secretary, Scott Besent, offers comments during the Perspective Forum of the International Finance Institute, April 23, 2025 in Washington
Andrew Harnik/Getty Images
“The IMF once was unwavering in its mission of promoting global monetary cooperation and financial stability. Now he dedicates time and disproportionate resources to work on climate change, gender and social problems,” said Besent, adding that these are not “the mission of the IMF.”
This criticism occurs a day after the IMF warned that the United States and the global economy will be affected after Trump’s tariffs.
– Molly Nagle and Kelsey Walsh of ABC News’
