Speaking on the sidelines of the Spring Meetings of the IMF and World Bank in Washington, Bessent argued that the two global financial bodies had become entangled in what he described as “sprawling and unfocused agendas” at the expense of their primary missions.

He called on the World Bank to make better use of its financial resources, particularly in helping countries meet their energy needs. This, he said, should include support for fossil fuel-based energy production, a stance likely to stir debate amid the growing global emphasis on renewable energy.

Turning his attention to the IMF, Bessent questioned the institution’s focus on broader social themes, such as climate change, gender equity, and social inclusion. He contended that these areas, while important, were overshadowing the Fund’s main role in global financial stability and economic surveillance.

“The IMF and World Bank must step back from their sprawling and unfocused agendas, which have stifled their ability to deliver on their core mandates,” Bessent said. “Going forward, the Trump administration will leverage US leadership and influence at these institutions and push them to accomplish their very important mandates.”

Bessent’s remarks reflect a broader shift in US foreign policy priorities under the Trump administration, which has often taken a sceptical view of multilateral institutions and environmental commitments. His comments are likely to reignite tensions within the international community, where views diverge sharply on the balance between economic development and sustainability.

The IMF and World Bank have yet to issue formal responses to Bessent’s statements.

--ChannelAfrica--