Scott Bescent says the World Bank and the IMF need a full overhaul: “Mission Creep knocked these institutions off the course.”

• Scott Bescent called for a clearance of change At the World Bank and the International Monetary Fund, they insisted that they needed to reunite with the mission and were responsible for their dealings with China.

Treasury Secretary Scott Bescent spoke to the International Finance Institute on Wednesday, calling for a drastic overhaul at the World Bank and the International Monetary Fund, claiming that the two agencies need to be reconnected with their mission.

“The IMF and the World Bank have enduring value, but Mission Creep has knocked these institutions out of course,” Bescent said. He said, and he said reforms needed.

The IMF and the World Bank did not respond immediately Fortune Request a comment.

Bescent said the Trump administration would like to work with the agency as long as they remain faithful to a non-current mission. He called their agenda as vast and unfocused, making sure they didn’t reach their core Obligation: To promote global macroeconomic and financial stability for the IMF, and to promote long-term economic development and poverty reduction for the World Bank. The Trump administration will leverage American leadership and influence in these institutions to drive change.

“The IMF is suffering from mission creep,” Bescent said. “The IMF once unwavering its mission to promote global financial cooperation and financial stability. Now it dedicates disproportionate time and resources to tackle climate change, gender and social issues.”

He said the International Monetary Fund should be a brutal and true person. Instead, he insisted that it was “passing the cemetery.” IMF 1 day ago I warned The global economy will be directed towards slowing down due to uncertainty and trade tensions, and the US will suffer when it comes to economic growth. Bescent said that as long as others hear it, he is open to criticism.

“The IMF needs to call countries like China, which have been pursuing globally distorted policies and opaque currency practices for decades,” he said.

The president placed some of his tariffs on ice after the sale in the stock and bond markets, but he worked on more for China. China retaliated and threatened an escalating trade war. There may be fewer threats at this point since Bessent It floated “escalation”. Trump too hinted With the reduction in tariffs on Chinese products, and Report Say the White House may cut that tariff soon.

Still, it doesn’t keep bescent declare China needs to change or request global financial institutions to surpass its board of directors. “It’s ridiculous for a developing country that deals with China,” Bescent said. He said the bank wandered out of its mission.

“Banks should no longer expect a vapid, buzzword-centric marketing blank check with half-minded commitment to reform,” says Bessent.

This story was originally introduced Fortune.com