The head of the International Monetary Fund downplayed its work related to climate change after US Treasury Secretary Scott Bessent called for the lender to return to its core focus as economic stabilizer.

US Treasury Secretary Scott Bessent's criticism of the International Monetary Fund raised "a number of important issues" to grapple with, the head of the Washington-based institution said Thursday."He raised a number of important issues and priorities for the institution that I look forward to discussing with the US authorities and the membership as a whole,

IMF Chief Kristalina Georgieva stated on Thursday that the Fund will implement Washington's suggestions regarding its policy. The day before, U.S. Treasury Secretary Scott Bessent had criticised the IMF and the World Bank,

U.S. Treasury Secretary Scott Bessent on Wednesday called on the International Monetary Fund and World Bank to refocus on their core missions of macroeconomic stability and development, arguing that they have strayed too far into vanity projects such as climate change that have reduced their effectiveness.

The treasury secretary said the Trump administration remains committed to playing a leadership role in the IMF and the World Bank but will “demand that the management and staff of these institutions be accountable for demonstrating real progress.

Global public debt peaked in 2020 as governments borrowed heavily for COVID-19 relief. But it has been edging back up, and now it's accelerating.

Higher tariffs and heightened geopolitical tensions may push government debts to new highs over the coming years, making the need for policymakers to outline robust plans for containing the surge more pressing,