U.S. Treasury: IMF & World Bank Have Drifted From Core Mission, Are Wasting Resources

At a fiery appearance before the Institute of International Finance, U.S. Treasury Secretary Scott Bessent issued a no-nonsense call to refocus and reform the Bretton Woods institutions — the IMF and World Bank. Backed by the Trump administration, Bessent argued these institutions have drifted from their core missions, wasting resources on “sprawling agendas” and “buzzword-centric marketing” instead of tackling real economic challenges. He criticized the IMF for suffering from “mission creep,” devoting time to issues like climate change and gender, while ignoring macroeconomic imbalances, especially from surplus countries like China. Bessent emphasized that the IMF must return to being a "brutal truth-teller"—not afraid to call out flawed policies, unsustainable debt, or currency manipulation. As for the World Bank, Bessent demanded an end to blank checks and called for sharper execution around development goals—especially energy access, private investment, and debt sustainability. This video dives deep into why the U.S. wants these powerful institutions to stop playing politics and start producing results.