Bessent to skip IMF, World Bank meetings

Next week's IMF and World Bank annual meetings in Bangkok will proceed without US Treasury Secretary Scott Bessent, who has decided to stay in Washington for domestic engagements. This absence shifts leadership of the US delegation to Deputy Treasury Secretary Francis Brooke and Under Secretary for International Affairs Erin Browne.

The meetings, held in Thailand, will focus on debt policy, global growth, and institutional reform. US officials will work with partners to address policy issues and structural imbalances that have hindered growth, while advocating for greater transparency and more effective approaches to sovereign debt. The delegation will also emphasize helping countries facing debt distress restore stability and growth, while maintaining clear and consistent standards for creditors and borrowers.

Treasury officials will work to ensure that international financial institutions and the broader international economic system advance US economic and national security interests. Bessent's absence comes at a sensitive time for the global economy, as benchmark Treasury yields have surged to their highest levels in nearly 25 years and an ongoing energy shock due to the Middle East conflict continues to impact growth.

The specific domestic commitments that keep Bessent in Washington are not immediately clear, but he has been a vocal advocate for domestic economic policy as the US midterm elections approach.