Bretton Woods institutions must reorient, US Treasury secretary says

United States Treasury Secretary Scott Bessent recently called for “Bretton Woods institutions,” such as the International Monetary Fund (IMF), to reorient themselves, a signal that the global monetary order could be shifting. Speaking at the Institute of International Finance (IIF) on April 23, Bessent called on the IMF and the World Bank to correct trade imbalances and protect the value of fiat currencies against exchange rate risk. "The Bretton Woods institutions must step back from their sprawling and unfocused agendas," Bessent said. He added:"The IMF's mission is to promote international monetary cooperation, facilitate the balanced growth of international trade, encourage economic growth, and discourage harmful policies like competitive exchange rate depreciation source: https://cointelegraph.com/news/bessent-calls-bretton-woods-institutions-reorient?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound