- Scott Bessin called for complete change At the World Bank and the International Monetary Fund, claiming that they need to re -contact their tasks, deceiving their dealings with China.
Treasury Secretary Scott Bessin, in statements to the International Finance Institute on Wednesday, called for a comprehensive reform in the World Bank and the International Monetary Fund, and claimed that the founders needed to re -contact their tasks.
“The International Monetary Fund and the World Bank have permanent value, but Mission Creep has removed these institutions from the path,” said Pesin. He said that the two are abbreviated, and they need reform.
The International Monetary Fund and the World Bank did not respond immediately wealth Request to comment.
Pesin said that the Trump administration wants to work with institutions as long as it is correct in its duties, which are not at the present time. He called on the tables of their sprawling and unconnected business DelegationFor the International Monetary Fund, to enhance the global stability of the macroeconomic and financial economy, and for the International Bank, to enhance the long -term economic development and reduce poverty. The Trump administration will use the US leadership and influence these institutions and press for change.
“The International Monetary Fund has suffered from the crawl of the mission,” Bessin said. “The International Monetary Fund has been unstable in its mission of enhancing global monetary cooperation and financial stability. It is now devoting time and resources that are not commensurate with climate change, sex and social issues.”
He said that the International Monetary Fund should be the pillar of brutal truth. Instead, he claimed, he was “zero behind the cemetery.” International Monetary Fund a day ago to caution The global economy has been slowing down due to uncertainty and commercial tension, and the United States will suffer when it comes to economic growth. Pesin said he was open to criticism, as long as others also hear it.
He said: “The International Monetary Fund needs to summon countries like China, which has followed globally distorted policies and dark currency practices for several decades.”
While the president put some definitions on ice after a sale in stock and bond markets, he treated more for China. China has averaged, threatening an escalating trade war. There may be a lower threat at the present time since bessent Float “Using the escalation.” Trump also Glimpse Decreased definitions on Chinese goods, and Reports Suppose the White House may reduce its tariff for China soon.
However, it did not prevent this from advertisement China needs change, or inviting global financial institutions to maintain it over the Board of Directors. “The treatment of China … as a developing country is ridiculous,” Bessin said, referring to the World Bank. Pesin called on the bank’s initiative to expand energy access to hundreds of millions of people in Africa, a welcome effort. However, the bank has moved away from its mission.
“The bank should no longer expect empty checks for marketing centers about the two tanning words accompanied by half the heart’s obligations for reform,” said Pesin.
This story was originally shown on Fortune.com
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