At a full committee hearing with Treasury Secretary Scott Bessent, U.S. House Financial Services Committee Chairman French Hill called for stronger U.S. oversight to keep the International Monetary Fund and World Bank focused on their core mandates and aligned with American economic interests. Hill welcomed the World Bank’s decision to phase out lending to China by 2031 but pressed the IMF to address China’s external imbalances and demand greater economic transparency. Hill argued that China should not receive greater influence at the IMF, including a larger role for its currency in the Special Drawing Rights basket, until it meets the institution’s standards. He also highlighted the World Bank’s 2025 reengagement with nuclear energy and the first U.S. contribution in 2026 to its Nuclear Energy Assistance Trust Fund, calling for this shift to produce more projects and financing for reliable electricity in developing economies.
2026-09-15U.S. Financial Services Committee
U.S. House Financial Services Committee scrutinizes IMF and World Bank policies on China, transparency and nuclear energy
U.S. House Financial Services Committee Chairman French Hill urged tighter oversight of the IMF and World Bank, particularly over their policies toward China. He welcomed the World Bank’s plan to end China lending by 2031 and its renewed support for nuclear energy, while pressing the IMF to demand greater transparency before expanding China’s influence.