The Financial Times says officials cited “domestic engagements” for the US Treasury secretary’s absence.
Nikkei Asia reports that Scott Bessent will skip the IMF and World Bank meetings in Bangkok, scuttling the prospect of talks with Japan’s Ueda and Katayama. The Financial Times says officials attributed his absence to “domestic engagements.”
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U.S. Treasury Secretary Scott Bessent will skip the IMF and World Bank annual meetings in Bangkok because of unspecified domestic engagements, Reuters reported, citing a U.S. official.
The Treasury Department confirmed that Deputy Treasury Secretary Francis Brooke and Under Secretary for International Affairs Erin Browne will lead its delegation. The official schedule runs from October 12 through October 18.
Treasury said U.S. officials will work with other countries on policies and structural imbalances that have restrained growth, while pressing for greater transparency and more effective approaches to sovereign debt.
The department also plans to advocate for clearer standards for creditors and borrowers, with the goal of helping countries in debt distress regain stability. It said the IMF and World Bank should focus on their core mandates, operate efficiently and support policies that promote economic stability, productivity and growth.
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The United States is the largest shareholder in both institutions, according to Reuters. Treasury said its participation would focus on advancing U.S. economic and national security interests.
The United States holds the Group of 20 presidency this year, and the Treasury secretary normally would chair a meeting of finance ministers and central bankers. Reuters said Bessent's absence may frustrate top officials from other countries, who generally use the meetings to secure formal and informal bilateral talks with their U.S. counterpart.
Nikkei Asia reported that the decision scuttled the prospect of talks with Japan's Ueda and Katayama. The specific domestic engagements keeping Bessent in the United States were not immediately clear.
Reuters noted that top officials sometimes miss international meetings because of scheduling issues or other factors. Bessent is still expected to attend the G20 leaders summit in Miami in December.
