Bessent takes aim at the IMF
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 24 April 2025
⏱️ 12 minutes
🧾️ Download transcript
Summary
Sir Keir Starmer and Ursula von der Leyen will on Thursday finalise plans for a new defence pact, US Treasury secretary Scott Bessent has accused the IMF and World Bank of “mission creep” and Boeing reported lower than expected losses. Plus, Tesla chief executive Elon Musk looks to right the electric-car company by reducing his role in the Trump administration.
Mentioned in this podcast:
UK and EU finalise plans for defence pact
Musk drives Tesla calmly through investors’ red lights
Scott Bessent accuses IMF and World Bank of ‘mission creep’
Boeing prepared to redirect orders destined for Chinese carriers
Credit: Associated Press
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian, Ethan Plotkin, Lulu Smyth, and Marc Filippino. Additional help from Katie McMurran, Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | We're Equinor, an energy company searching for better. Currently, we supply 27% of the UK's gas, |
| 0:07.0 | 15% of its oil, and we're playing our part in the UK's energy transition. In 2023, we invested |
| 0:14.1 | 20% of our global gross spend in renewables and lower carbon solutions. Today, our wind farms power |
| 0:20.0 | 750,000 homes, and we expect this to grow to |
| 0:23.3 | over 7 million UK households. We're an energy company searching for better. Equinor.com. |
| 0:29.0 | UK. |
| 0:33.7 | Good morning from the Financial Times. Today is Thursday, April 24th. And this is your FT News briefing. |
| 0:39.8 | The UK and the EU are teaming up on security. And the U.S. apparently has some real beef with the IMF and World Bank. |
| 0:47.0 | Mission creep has knocked these institutions off course. |
| 0:50.9 | Plus, we'll take a look at what Elon Musk reducing his time in the Trump administration |
| 0:54.5 | might mean for Tesla. I'm Mark Filipino, and here's the news you need to start your day. U.K.K. Prime Minister Kier Starmar and European Commission President Ursula |
| 1:19.3 | Leyen meet today. They're finalizing plans for a defense pact. |
| 1:23.9 | Sources say the deal will accomplish a couple of things, notably open the door for sensitive talks on energy cooperation and maybe remove trade barriers for food and agricultural products. |
| 1:35.1 | Starmer and von der Leyen are also set to announce a rollover of the current fishing arrangements between the two governments. |
| 1:41.5 | There is expected to be a formal announcement of these deals on May 19th. |
| 1:52.1 | Scott Bessent had some choice words for the International Monetary Fund and World Bank yesterday. |
| 1:57.8 | The IMF and World Bank have enduring value. But Mission Creep has knocked these institutions |
| 2:04.3 | of course. We must enact key reforms to ensure the Bretton Woods institutions are serving their |
| 2:11.5 | stakeholders, not the other way around. The U.S. Treasury Secretary said this during a speech |
| 2:17.2 | at the Institute of International Finance yesterday. The U.S. Treasury Secretary said this during a speech at the Institute of |
| 2:18.4 | International Finance yesterday. The IMF and World Bank spring meetings are taking place all this week. |
| 2:25.5 | Here with me now to discuss this is the FT's U.S. economics editor, Claire Jones. Hey, Claire. |
... |
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