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IMF Pledges Focus on Core Lending After US Treasury Criticism

Managing Director Georgieva commits to addressing US concerns while maintaining limited climate support and cost efficiency.

IMF Managing Director Kristalina Georgieva holds a press briefing during the 2025 annual IMF/World Bank Spring Meetings in Washington, D.C., U.S., April 24, 2025. REUTERS/Ken Cedeno
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Kristalina Georgieva, managing ­director of the IMF, said she “appreciated” Scott Bessent’s position
IMF Managing Director Kristalina Georgieva said uncertainty around US tariff policy was a 'cloud that is hanging over our heads'

Overview

  • US Treasury Secretary Scott Bessent criticized the IMF for prioritizing climate, gender, and social issues over its core crisis-lending role.
  • IMF Managing Director Kristalina Georgieva affirmed the Fund's focus on preventing balance-of-payments crises and pledged to discuss US concerns with its 190 member countries.
  • Georgieva clarified that the IMF does not employ climate experts and emphasized that its climate-related work is limited and targeted.
  • Bessent also accused the IMF of failing to challenge China's long-standing distortive policies and opaque currency practices.
  • Georgieva highlighted the IMF's commitment to cost efficiency, noting its budget has remained flat in real terms for 20 years, and warned of the economic risks from uncertainty in US tariff policies.