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 @ISIDEWITHNewsInternational RelationsUS Treasuryglobal financeIMFWorld Bank•••17hrs ago

US Treasury Secretary Calls for Major IMF and World Bank Reforms Amid Global Leadership Push

US Treasury Secretary Scott Bessent has called for significant reforms to the International Monetary Fund (IMF) and World Bank, arguing that these institutions must stay true to their missions to remain effective. Bessent emphasized the importance of US leadership in the global financial system and reassured investors of America's ongoing commitment. He also highlighted the potential for a major deal with China, suggesting that collaboration among trade partners is crucial. The remarks signal a push for modernization and greater accountability within these key international organizations.

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Bessent says IMF, World Bank need reform, sees chance for China deal

https://business-standard.com

Treasury Secretary Scott Bessent leveled harsh criticism at the operations of the World Bank and the International Monetary Fund on Wednesday even as he tried to reassure nervous investors that the United States would maintain its global leadership role.

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Bessent says IMF and World Bank need reform and there’s an ’opportunity for a big deal’ with China

https://thehindubusinessline.com

Treasury Secretary Scott Bessent criticizes IMF and World Bank, emphasizes US global leadership, and calls for collaboration among trade partners.

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Axis of Desperation: Russia Recruits North Korean Soldiers in Ukraine War

Secretary of Defense Lloyd J. Austin III confirmed on Wednesday that North Korea had sent troops to Russia to join the fight against Ukraine, a major shift in Moscow’s effort to win the war. Mr. Austin called the North’s presence a “very, very serious” escalation that would have ramifications in both Europe and Asia.“What exactly are they doing?” Mr. Austin told reporters at a military base in Italy after a trip to Ukraine. “Left to be seen.” He gave no details about the number of troops already there or the number expected to arrive.Mr. Austin cast President Vladimir V. Putin’s need for North Korean mercenaries as a sign of desperation.“This is an indication that he may be in even more trouble than most people realize,” he said. “He went tin-cupping early on to get additional weapons and materials from the D.P.R.K.,’’ he said, using the abbreviation for Democratic People’s Republic of Korea, “and then from Iran, and now he’s making a move to get more people.”But he said intelligence analysts were still trying to discern whether the troops were moving toward Ukraine.Ukrainian officials insist they are headed there, and Ukraine’s defense minister was quoted on Wednesday saying he expected to see North Korean troops in Kursk, the Russian territory that Ukraine has occupied, in the coming days.Mr. Austin’s statement came as American intelligence officials said they were preparing to release a trove of intelligence, including satellite photographs, that show troop ships moving from North Korea to training areas in Vladivostok on Russia’s east coast and other Russian territory further to the north.For two weeks, there have been reports of the movements, fueled by the Ukrainian and South Korean governments, that more than 12,000 North Koreans were training to fight alongside Russian soldiers.American officials have said they estimate that 2,500 North Korean troops have been dispatched. But they made no estimate of how many more might follow, or even how well they might perform on territory that the North’s conscripts have never fought in, amid fellow fighters who speak a different language.

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Kamala Harris is considering running for president again in 2028

Kamala Harris has been lying low since her defeat in the presidential race, unwinding with family and senior aides in Hawaii before heading back to the nation’s capital.But privately, the vice president has been instructing advisers and allies to keep her options open — whether for a possible 2028 presidential run, or even to run for governor in her home state of California in two years. As Harris has repeated in phone calls, “I am staying in the fight.”She is expected to explore those and other possible paths forward with family members over the winter holiday season, according to five people in the Harris inner circle, who were granted anonymity to discuss internal dynamics. Her deliberations follow an extraordinary four months in which Harris went from President Joe Biden’s running mate to the top of the ticket, reenergizing Democrats before ultimately crashing on election night.“She doesn’t have to decide if she wants to run for something again in the next six months,” said one former Harris campaign aide. “The natural thing to do would be to set up some type of entity that would give her the opportunity to travel and give speeches and preserve her political relationships.”“She doesn’t have to decide if she wants to run for something again in the next six months,” said one former Harris campaign aide. “The natural thing to do would be to set up some type of entity that would give her the opportunity to travel and give speeches and preserve her political relationships.”Harris concedes: 'We must accept the results of this election'SharePlay VideoMost immediately, Harris and her advisers are working to define how and when she will speak out against Donald Trump and reassert her own role in the Democratic Party. Closing out her term as vice president, she’s set to preside over certifying the November election she lost to Trump, and then appear at the once-and-future president’s inauguration on Jan. 20.“There will be a desire to hear her voice, and there won’t be a vacuum for long,” a person close to Harris said.At the same time, Harris and her husband, Doug Emhoff, will have a long checklist to plow through before they leave the Naval Observatory for good.They have to decide whether they’ll take up permanent residence at their home in Los Angeles, or establish a base elsewhere. No matter where Harris and her family live, some around her have expressed concerns about safety, as her Secret Service protection expires six months after stepping away.

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