The Trump administration’s recent criticism of the IMF has put the institution’s future global role into the spotlight. Treasury Secretary Scott Bessent has accused the Fund of failing to hold China to account while Project 2025 has raised fears that the US might withdraw entirely from the institution. However, other commentators have pointed out that the IMF has historically been a vital instrument for Washington’s economic and financial policy and continues to serve US interests. The IMF itself defines its mission as ‘furthering international monetary cooperation, encouraging the expansion of trade and economic growth, and discouraging policies that would harm prosperity.’ It aims to pursue these goals by providing policy advice, acting as the lender of last resort to countries, and helping to develop countries’ technical capabilities in macroeconomic and financial policy.
The IMF must keep pace with a changing world economy (Creon Butler, Chatham House)
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