FT News Briefing Bessent takes aim at the IMF
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Apr 24, 2025 A new defense pact between the UK and EU promises enhanced collaboration. Sir Keir Starmer and Ursula von der Leyen are finalizing these crucial plans. US Treasury Secretary Scott Bessent criticizes the IMF and World Bank for 'mission creep,' calling for a return to core missions. Meanwhile, Boeing is redirecting orders amid financial recovery, while Tesla faces struggles under Elon Musk's leadership as he seeks to stabilize the company amidst investor concerns.
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Bessent on IMF and World Bank Mission Creep
- U.S. Treasury Secretary Scott Bessent criticized IMF and World Bank for "mission creep" into areas like climate and social issues.
- He wants them to focus back on core financial stability and global economic cooperation missions.
US Pushes IMF and World Bank Focus
- The U.S. opposes IMF's expansion into climate and social topics under Kristalina Georgieva.
- The World Bank may try to shift focus toward jobs and away from climate amid these tensions.
Tesla's Challenges and Musk's Shift
- Tesla struggles with competition, political backlash, and no new mass market model except Cybertruck.
- Elon Musk's decision to reduce government role aims to refocus on cars and progress in AI and robotics.