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International Business Times
International Business Times
Science

US Treasury Chief Says IMF, World Bank Must Be 'Fit For Purpose'

World Bank Scott Bessent International Monetary Fund United States the International Monetary Fund Economic Growth
US Treasury Secretary Scott Bessent speaks during the Institute of International Finance Global Outlook Forum in Washington, DC (Credit: AFP)

The International Monetary Fund and the World Bank "must be made fit for purpose again," US Treasury Secretary Scott Bessent said Wednesday, arguing the institutions should be promoting economic growth instead of social issues.

Speaking on the sidelines of the organizations' spring meetings in Washington, Bessent said the IMF devotes "disproportionate time" to climate change, gender, and other social topics.

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