Treasury Secretary Scott Bessent said the U.S. remains committed to playing a leadership role in the IMF and World Bank but wants to see changes.

U.S. Treasury Secretary Scott Bessent on Wednesday said IMF chief Kristalina Georgieva and World Bank President Ajay Banga are both good leaders but must earn the Trump administration's trust by refocusing the institutions on their core missions.

Treasury Secretary Scott Bessent leveled harsh criticism at the World Bank and International Monetary Fund Wednesday, saying "mission creep" and devoting "disproportionate time" to climate change, gender and social issues has caused the institutions to fall short.

Earlier this week, the International Monetary Fund (IMF) also cut its economic growth forecast for India for the current fiscal year, citing increased trade tensions and global uncertainty. The IMF lowered its forecast to 6.2% from the 6.5% it had forecast in January for the current fiscal year.

The International Monetary Fund on Tuesday cut its economic growth forecast for Japan and projected the central bank would lift interest rates at a slower-than-expected pace due to the impact of higher U.

Trump’s tariffs are forecast to slow the global economy sharply this year, the International Monetary Fund said.