Bessent says IMF's SDR system should serve US interests, not aid wealthy countries
ReutersMay 7, 2025 3:19 PM
WASHINGTON, May 7 (Reuters) - U.S. Treasury Secretary Scott Bessent said on Wednesday that the International Monetary Fund's Special Drawing Rights allocation system should serve U.S. interests and not be geared towards aiding large, well-financed countries.
Bessent also told a U.S. House of Representatives Financial Services Committee hearing that it was time for China to graduate from developing country status in the eyes of international financial institutions including the IMF and World Bank.
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