#Breaking | Scott Bessent said on Wednesday that the International Monetary Fund and the World Bank "must be rehabilitated to be fit for their original mission," noting that the two institutions have deviated from their core objectives.
During a speech on the sidelines of the two institutions' spring meetings, Bessent added that "the IMF is not obligated to provide loans to countries that fail to implement reforms," stressing that "economic stability and growth must be the true criteria for the Fund's success."
Regarding the World Bank, Bessent said that "it should no longer expect blank checks in exchange for empty marketing campaigns based on buzzwords, accompanied by tepid reform commitments."