IMF Stays Focused Amidst U.S. Policy Shift

IMF Managing Director Kristalina Georgieva affirmed the organization's commitment to preventing balance of payments crises while integrating concerns from the Trump administration. During the IMF and World Bank Spring Meetings, she addressed U.S. Treasury Secretary Scott Bessent's recommendations to refocus on macroeconomic stability, maintaining support for climate-affected nations.

At the recent IMF and World Bank Spring Meetings, IMF Managing Director Kristalina Georgieva emphasized the ongoing commitment to preventing balance of payments crises, highlighting the integration of concerns from the Trump administration.

Georgieva responded to U.S. Treasury Secretary Scott Bessent's push for the institutions to revert to core macroeconomic stability missions, amid shifts away from climate and gender issues, citing the potential reductions in their effectiveness.

Despite these changes, Georgieva reiterated the significance of addressing climate impacts on macroeconomic policy and maintained support for affected countries, all while advocating for cost-efficiency and acknowledging member input in policy decisions.

(With inputs from agencies.)