U.S. Treasury Secretary Scott Bessent pointed to an exclusive Germantown golf club as he fielded questions earlier this week about the International Monetary Fund, which owns the club.
“Sell the golf course,” he said of the Bretton Woods Recreation Center.
Bessent also said that he didn’t know whether President Donald Trump was aware that the IMF owned the club, but added: “I don’t think he’d be happy” if he did, according to a report from Reuters.
Bessent’s golf course comment reflects his past criticism of the IMF and comes as his former chief of staff, Dan Katz, settles in as second in command at the international agency, which is part of the United Nations.
Asked what changes he expects at the IMF with Katz is its first deputy managing director, Bessent — after advising the sale of the golf course — expressed confidence in his former right-hand man.
“They are going to go back to their core mission,” Bessent said on Wednesday, according to a Treasury Department spokesman.
Bessent has repeatedly called for the IMF to rein in its financing and refocus on its role as a “lender of last resort” to its 191 member countries.
“Their core mission is providing liquidity, providing backstops, and being useful as an intervention when either countries are in trouble, or need to go on to a path,” the secretary said of the agency. “This kind of dalliance, these climate policies, or social engineering, we’re going to stop.”
Neither the IMF nor Bretton Woods General Manager Charles Torrance could be reached for comment Friday.
As the lender’s largest shareholder, the U.S. wields significant influence over IMF policy. And Bessent’s department leads U.S. engagement with the Fund.
The Washington, D.C.-based IMF created the club in 1968 for its staff, retirees and their families.
Membership has since expanded to staff and retirees of D.C-area embassies and of certain international organizations operating in the U.S.
Bretton Woods also offers membership “on a limited basis” to local residents not affiliated with international organizations, according to its website.
Bretton Woods’ membership costs aren’t publicly available. The club reported $8.7 million in revenue and $8.4 million in expenses in 2023, according to ProPublica’s Nonprofit Explorer. The club had more than $13 million in total assets.
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