Bessent Warns World Bank on U.S. Support

U.S. Treasury Secretary Scott Bessent has criticized the International Monetary Fund (IMF) and World Bank for 'mission creep,' claiming both have focused too much on issues like climate change and social equity at the expense of their core economic missions. He reaffirmed the U.S. commitment to leadership within these institutions but demanded major reforms to refocus them on global economic stability and sustainable trade. Bessent clarified that 'America First does not mean America alone,' emphasizing the U.S. will seek to strengthen, not withdraw, its influence. He warned that the current global trading system is unsustainable and called for a return to the original Bretton Woods mandates. Importantly, Bessent specifically cautioned the World Bank not to expect continued U.S. support without substantive reforms and improved efficiency. These remarks reflect escalating tensions between the Trump administration and other major stakeholders over the direction of the IMF and World Bank.