Treasury Secretary Scott Bessent has played a balancing act trying to reassure nervous investors that the U.S. would maintain its global leadership role while staying true to the Trump administration’s skepticism of multilateral banking organizations.

Bessent spoke to the Institute of International Finance as both the International Monetary Fund and World Bank held their spring meetings in Washington. On Monday, the IMF downgraded its forecast of U.S. economic growth to 1.8% this year, a reduction from the 2.7% it estimated as recently as January.

Treasury Secretary Scott Bessent said the institutions “serve critical roles in the international system. And the Trump administration is eager to work with them — so long as they can stay true to their missions.