Although Bessent said the IMF and the World Bank are “falling short,” he did not call for the U.S. to withdraw from the institutions, as some conservatives had advocated in a

Bessent spoke to the Institute of International Finance as both the International Monetary Fund and World Bank held their spring meetings in Washington. On Monday, the IMF downgraded its forecast of U.S. economic growth to 1.8% this year, a reduction from the 2.7% it estimated as recently as January.

The IMF and World Bank serve critical roles in the international system,” Bessent said in prepared remarks. “And the Trump Administration is eager to work with them — so