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.

Treasury Secretary Scott Bessent argued in a speech that the multilateral economic institutions have veered away from their missions.

Treasury Secretary Scott Bessent spoke Wednesday to international economists attending IMF and World Bank spring meetings in Washington D.C. this week, telling them the Trump administration wants to overhaul these institutions to create a more "sustainable international economic system.