International Monetary Fund Managing Director Kristalina Georgieva said her agency has been vocal about urging China to move away from its export-led growth policy, Reuters reported Monday.
Georgieva's statements come after she was asked if the IMF's tougher stance on China is a result of US Treasury Secretary Scott Bessent's directive for the Fund to return to its mission of stabilizing the economy, the report said.
Georgieva said it was vocal about China's need to shift to more domestic consumption rather than export, and the necessity for China to fix its property sector, the report said.
Bessent said in April the IMF and World Bank will need to have a stronger stance against China and other countries, saying they have been using globally destructive policies and unclear currency practices for many years, the report said.
Bessent also asked the IMF to get back to economic stability and development missions after what he said was a segue into climate, gender, and equality issues, the report said.
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