US Treasury Secretary Scott Bessent will not travel to attend the 2026 Annual Meetings of the Boards of Governors of the International Monetary Fund and the World Bank Group, or IMF–World Bank 2026, in Bangkok, Thailand, due to urgent domestic commitments. In a statement, the US Treasury said it has assigned Deputy Treasury Secretary Francis Brooke and Treasury Under Secretary for International Affairs Erin Brown to lead the US delegation to the meetings in his place. The delegation's agenda includes discussions with allied countries on addressing policy issues and structural imbalances that hinder global economic growth, while pushing for transparency and public debt management. The United States, as the largest shareholder of the IMF and World Bank, wants both institutions to focus on their core missions and support policies that promote economic stability, productivity, and global economic growth. The withdrawal comes amid volatile global financial markets, with long-term US government bond yields rising to their highest level in nearly 25 years, compounded by an energy crisis stemming from conflict in the Middle East. Bessent is expected to return to the international stage at the G20 leaders' summit in Miami, Florida, in December 2026, when the United States holds the 2026 G20 presidency.
Article notes long-term US government bond yields rising to their highest in nearly 25 years amid volatile markets, implying upward pressure on the 10Y yield (bond prices down).
