U.S. Treasury Secretary Scott Bessent called for a sweeping overhaul of the International Monetary Fund and World Bank, criticizing China’s export-driven model and urging a global economic reset aligned with the Trump administration’s redefined vision of the Washington Consensus.
“We must make the IMF the IMF again,” Bessent said Wednesday in a panel hosted by the Institute of International Finance during the the Fund’s Spring Meetings in Washington.
Bessent criticized what he described as “mission creep” that’s diverted the fund’s focus toward climate, gender and social programs. He argued that such priorities have “crowded out” the IMF’s core responsibility: ensuring global monetary stability.
Despite growing speculation about the future of the U.S. dollar in a shifting global order, Bessent reaffirmed the administration’s commitment to a strong dollar policy.
“A strong dollar means having the right policies in place to attract capital and inspire confidence,” he said, adding that exchange rates are ultimately set by markets.
“The U.S. will remain the world’s reserve currency for my lifetime—and frankly, I’m not sure anyone else wants the job.”
IMF Policies: Back To …Full story available on Benzinga.com
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