U.S. Treasury Secretary Scott Bessent to Miss IMF and World Bank Annual Meetings

U.S. Treasury Secretary Scott Bessent will not attend the International Monetary Fund (IMF) and World Bank annual meetings scheduled for next week in Bangkok, Thailand. The Treasury Department confirmed that the delegation will instead be led by Deputy Treasury Secretary Francis Brooke and an under-secretary for international affairs—identified in one report as Erin Browne and in another as Erin Brown. The decision was attributed to “domestic matters” that require Bessent’s presence ahead of the U.S. midterm elections.

Japan Times

The United States chairs the Group of Twenty (G20) this year and would normally have the Treasury secretary chair the finance-ministers’ gathering that coincides with the IMF/World Bank sessions. Bessent is expected to attend the G20 leaders’ summit in December in Miami, Florida. His absence comes as benchmark U.S. Treasury yields have risen to their highest level in nearly 25 years and a prolonged energy shock—linked to the war in the Middle East—has slowed global growth. Treasury officials said the U.S.

The U.S. Treasury Secretary will skip the IMF and World Bank meetings — why this is unusual and what the reasons are Japan Times

The Treasury Department issued a statement emphasizing that the United States will continue to press the IMF and World Bank—where it is the largest shareholder—to adhere to their core mandates, operate efficiently, and support policies that promote economic stability, productivity, and growth. The agency also reiterated its intent to apply “clear and consistent standards” to both creditors and borrowers facing debt distress.

The U.S. Treasury Secretary will skip the IMF and World Bank meetings — why this is unusual and what the reasons are

Two source outlets differ on the spelling of the under-secretary’s surname: one names Erin Browne, the other Erin Brown. No additional clarification has been provided by the Treasury Department, leaving the exact identity of the official leading the delegation ambiguous. Apart from this naming discrepancy, the reports are otherwise consistent on the reasons for Bessent’s absence and the delegation’s agenda.

The U.S. Treasury Secretary will skip the IMF and World Bank meetings — why this is unusual and what the reasons are

• “Our engagement in Bangkok will be guided by a clear objective: ensuring that the international financial institutions and the broader international economic system advance U.S. economic and national security interests,” — S. Treasury

Japan Times