The Governor of the Bank of England urged continuous support from the United States to two major global economic institutions.
Andrew Bailey told the BBC that he “followed very closely” if the Trump administration would modify its support for the International Monetary Fund (IMF) and the World Bank.
Sources in Washington said that the two institutions were taken by an executive decree of the White House for a United Nations (UN) examination and other international organizations.
Mr. Bailey said it is “very important that we have no fragmentation of the world economy”.
He said that “a large part of this is that we have support and commitment to multilateral institutions, institutions like the IMF, the World Bank, which support the operation of the world economy. It is really important.”
There is an increasing concern in the Ministries of Finance and Central Banks around the world about the US disengagement of the United States, with radical changes to the global financial system now in Washington DC.
The “2025 project” suggested BluePrint for the presidency of Trump, which was written by figures which are now key to the White House, recommended the withdrawal of the two institutions and the termination of financial contributions.
He declared that the institutions “marry the theories and economic policies which are hostile to the American principles of the free market and the principles of the limited government”.
Following an executive decree of the White House, all international intergovernmental organizations of which the United States will be examined to determine whether it is “contrary to the interests of the United States” and “can be reformed”.
The six -month exam could then provide withdrawal recommendations to President Trump.
G20 sources, or a group of twenty – a country club that meet to discuss global economic and political issues – said that during their first mandate, Trump’s team suggested removing the IMF at the Buenos summit 2018 areas.
The IMF and the World Bank are UN specialized agencies.
The United States is the largest shareholder in the fund and the bank, institutions created by the Bretton Woods post-war conference 80 years ago.
The IMF offers loans as a last resort to nations in financial difficulty and examines economic problems.
The World Bank grants money and inexpensive loans to developing countries for poverty reduction and development.
The Trump administration has not yet appointed personnel in this area, but USAID development expenses are currently at the center of reductions in the Elon Musk Government Ministry.
Some members of the administration would be particularly focused on World Bank loans to China.
Asked about the possibility that the United States left the fund, the IMF said yesterday that it had a “long history” to “work with successive American administrations”.
