Besent asked for a reorientation of the IMF and the World Bank towards its original functions, leaving aside agendas that, according to him, divert their purpose and reduce its effectiveness.
The US Treasury Secretary, Scott Besent, He urged Wednesday to the International Monetary Fund (IMF) and the World Bank to be re -enforced in its main missions of macroeconomic stability and development, arguing that they have diverted too much to vanity projects such as climate changewhich diminished its effectiveness.
In statements where he presented his vision of the US participation with the IMF and the World Bank, Apart from the spring meetings of both institutionsBesent said that they perform fundamental roles in the international financial system.
«And the Trump administration is willing to work with them, as long as they remain faithful to their missions”Besent said in comments prepared for the International Finance Institute.
Besent’s words
«The IMF and the World Bank have a lasting value. But the expansion of his mandates has diverted to these institutions of his course. We must implement key reforms to ensure that Bretton Woods institutions serve their interested parties, and not vice versa, ”he said, while calling the US allies. Uu. To join the effort. “America first does not mean America alone.”
Besent said that the IMF must concentrate on its main mandate and maintain strict standards in its loans.
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«The IMF was once firm in its mission of promoting global monetary cooperation and financial stability. Now he dedicates time and disproportionate resources to issues such as climate change, gender and social issues. These are not part of the IMF mission ».
“And sometimes, the IMF should know how to say ‘no’. The organization does not have the obligation to provide countries that do not implement reforms ».
In addition, Besent said that the World Bank must be “technologically neutral and prioritize affordability in energy investments. In most cases, this means investing in gas and other forms of energy production based on fossil fuels ». He added that it could also finance renewable energy projects along with systems that allow managing the intermittency of wind and solar energy.
Source: Ambito
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