Follow Al Rai
US Treasury Secretary Scott Bessent will miss the annual meetings of the International Monetary Fund and the World Bank in Bangkok next week, a ministry official confirmed on Friday, amid mounting domestic pressures related to the war with Iran and the continued rise in bond yields.
Bessent was expected to chair a meeting of G20 finance ministers and central bank governors on Thursday, as the United States assumes the rotating presidency of the group.
However, the Treasury Department stated that Deputy Treasury Secretary Francis Brooke and Under Secretary for International Affairs Erin Brown will lead the US delegation in Bessent's place.
A US official added that Bessent has "domestic commitments," without providing further details.
These annual meetings, which are held outside the IMF headquarters in Washington every three years, come weeks before the crucial midterm elections.
The Republican Party will seek to retain control of Congress in the elections scheduled for November, amid growing voter concerns regarding affordability.
Americans are feeling the brunt of rising energy costs linked to the war in the Middle East, which erupted after the United States and Israel carried out strikes on Iran in late February, as Tehran has since closed the Strait of Hormuz, leading to a massive jump in oil prices.
It is noteworthy that Bessent did not travel to Cape Town to attend the G20 meeting last year.
Know more about this story?Send us a tip
Ask about this report — answers stay grounded in its text.
