In a new Explainer, BWC Members Eli Whitney Debevoise II and Brian Bombassaro break down what the administration’s Fiscal Year 2027 Budget Request means for the international financial institutions, and what’s at stake for US leadership in the global financial system.

The request reflects a roughly 20 percent cut to the Treasury International Affairs budget, with notable reductions to U.S. contributions to the World Bank’s IDA and several other multilateral development banks. The explainer walks through the specifics of each institution’s request, flags key areas of congressional tension, and explains what the numbers signal about the administration’s broader posture toward the Bretton Woods institutions.