Mnuchin Says Global Financial Institutions Need to Tighten Belts
- U.S. to stay top donor as biggest economy: Treasury secretary
- Trump has proposed $650 million in cuts to development lenders
Steven Mnuchin, U.S. Treasury secretary, center right, listens during a Senate Budget Committee hearing in Washington, D.C., on June 13, 2017.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Treasury Secretary Steven Mnuchin said international financial institutions such as the World Bank need to operate more efficiently as the U.S. focuses on streamlining its own government operations.
In fiscal 2018 budget proposals, the Trump administration called for cutting funding for the World Bank and other multilateral development lenders by $650 million over three years.