U.S. Treasury Secretary Scott Bessent on Wednesday called on the International Monetary Fund and World Bank to refocus on their core missions of macroeconomic stability and development, arguing that they have strayed too far into vanity projects such as climate change that have reduced their effectiveness.

"To the contrary, it is a call for deeper collaboration and mutual respect among trade partners.” Although Bessent said the IMF and the World Bank are “falling short,” he stopped short of calling for the U.

Treasury Secretary Scott Bessent called for a course correction for the International Monetary Fund and World Bank, while saying they serve “critical roles” and the Trump administration is willing to work with them.