US Treasury Chief Backs IMF, World Bank After Criticism

(FILES) US investor and hedge fund manager Scott Bessent testifies before the Senate Finance Committee on his nomination to be Secretary of the Treasury, on Capitol Hill in Washington, DC, on January 16, 2025. Bessent won Senate approval to become the Treasury Secretary on January 27, 2025. Bessent, who cleared the confirmation vote by 68-29, has defended the Republican president’s tax cutting and tariff proposals while urging efforts to secure supply chains and the dollar’s global status. (Photo by ANDREW CABALLERO-REYNOLDS / AFP)   US Treasury Secretary Scott Bessent said Tuesday that the IMF and World Bank are moving forward in a “constructive way,” one year after delivering sharp criticism of both institutions. Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672569656851-0"); }); He congratulated both their leaders in remarks on the sidelines of the organizations’ spring meetings — which bring global government and financial leaders to Washington this week. “The IMF is working on bringing Venezuela back in, to make it look more like a normal economy,” Bessent told an Institute of International Finance event adjacent to the gathering. He added that he expects the fund to play a “very important role” there. “World Bank leadership in terms of energy and unlocking resources and stability for the very poorest countries, I think, it’s back on a great trajectory,” Bessent added. Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672569913499-0"); }); During last year’s spring meetings, Bessent argued that the International Monetary Fund and World Bank should be promoting economic growth instead of social issues. READ ALSO: IMF Cuts Mideast, North Africa Growth Forecast To 1.1% Over Iran War He took aim at the IMF for devoting “disproportionate time” to topics like climate change and gender. At the time, he added that the World Bank needed to focus on core functions like helping developing countries grow their economies, lower poverty and boost investments. Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672587799169-0"); }); On Tuesday, Bessent said “I think the World Bank has made a good pivot,” particularly on nuclear energy. Last year, the bank said it was re-entering the nuclear energy space for the first time in decades as it works towards meeting growing electricity demand in developing countries. Bessent added that the World Bank is now taking a position more supportive of “energy abundance” and “getting back to the core mission of lifting people out of poverty.” He criticized a focus on social and climate issues as “luxury beliefs.” Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672587060870-0"); }); AFP Join Our Whatsapp Channel To join: Simply click on the link below & turn on notifications to get the latest updates Subscribe to Our Newsletter In This Article: IMF Scott Bessent US Treasury Chief World Bank More Stories IMF Cuts Nigeria’s 2026 Growth Outlook To 4.1% Over Mideast War IMF Cuts Mideast, North Africa Growth Forecast To 1.1% Over Iran War IMF Projects $50b In Emergency Financing To Tackle Global Payment Balance Shocks /* * * CONFIGURATION VARIABLES: EDIT BEFORE PASTING INTO YOUR WEBPAGE * * / var disqus_shortname = 'channelstelevision'; // Required - Replace example with your forum shortname / * * DON'T EDIT BELOW THIS LINE * * */ (function() { var dsq = document.createElement('script'); dsq.type = 'text/javascript'; dsq.async = true; dsq.src = '//' + disqus_shortname + '.disqus.com/embed.js'; (document.getElementsByTagName('head')[0] || document.getElementsByTagName('body')[0]).appendChild(dsq); })(); Please enable JavaScript to view the comments powered by Disqus.

SOURCE: https://www.channelstv.com/2026/04/14/us-treasury-chief-backs-imf-world-bank-after-criticism/