Investing.com -- The International Monetary Fund (IMF) is set to incorporate concerns raised by U.S. Treasury Secretary Scott Bessent into its policies, according to IMF chief Kristalina Georgieva. The announcement came on Thursday, as Georgieva emphasized the IMF’s role as a membership organization, stating it would respond to the needs and concerns of its members.
Bessent had previously criticized the IMF and the World Bank, stating on Wednesday that they needed to refocus on their core missions of macroeconomic stability and development. According to Bessent, the two organizations have deviated too far into areas such as climate change, which has negatively impacted their effectiveness.
In response to Bessent’s critique, Georgieva confirmed the IMF’s appreciation for the U.S.’s input, being its largest shareholder, and expressed gratitude for Bessent’s ongoing support. Addressing the climate change issue, Georgieva clarified that while the IMF does not employ climate experts specifically, it recognizes the necessity of macroeconomic support for countries dealing with extreme weather events. This support, she affirmed, is a crucial part of the IMF’s role.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.