U.S. Treasury Uncertainty on IMF and World Bank Leadership Trust

U.S. Treasury Secretary Scott Bessent expressed reservations about IMF's Kristalina Georgieva and World Bank's Ajay Banga, emphasizing their need to gain the Trump administration's trust by focusing on their core missions. The continuation of a significant U.S. pledge to the World Bank depends on budget talks and the bank's development focus.

U.S. Treasury Secretary Scott Bessent highlighted the leadership qualities of International Monetary Fund's Kristalina Georgieva and World Bank President Ajay Banga but stressed the importance of their efforts to regain the Trump administration's trust through a renewed focus on institutional missions.

Bessent further revealed to the media that the administration has not yet decided whether to follow through with the $4 billion World Bank pledge initiated by former President Joe Biden, intended for poorer nation funds.

The decision, Bessent outlined, will be contingent upon ongoing U.S. budget negotiations and a demonstrable shift by the World Bank towards enhancing development outcomes, thus aligning with a 'back to basics' approach.

(With inputs from agencies.)