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STORY: IMF / LAGARDE MNUCHIN
TRT: 2:48
SOURCE: IMF
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS
DATELINE: 22 APRIL 2017, WASHINGTON DC
1. Wide shot, IMF Managing Director Christine Lagarde and US Treasury Secretary Steve Mnuchin at open of event
2. Med shot, Lagarde and Mnuchin taking seats
3. SOUNDBITE (English) Christine Lagarde, Managing Director, International Monetary Fund (IMF):
“How do you see the role of the United States because this economy, being the largest one, has also an interest in making sure that poor countries, developing countries go up the ladder of development, participate in the global game. How do you see the US playing?”
4. SOUNDBITE (English) Steve Mnuchin, Treasury Secretary, United States:
”I think it’s the importance of the IMF, it’s the importance of the World Bank and other institutions. This is why we have everybody here. These are connected. These issues are connected. I think the IMF, you know one of the things I’ve said to you is we’re going to continue to look to the IMF for you to evaluate certain things, whether it be in the monetary markets or others and provide feedback to all of us.”
5. Wide shot, conference room with Lagarde and Mnuchin speaking
6. SOUNDBITE (English) Christine Lagarde, Managing Director, International Monetary Fund (IMF):
“When we look at the growth potential in many economies, we see that it’s reasonably low and maybe too low. I hear what you say about moving from 1.8 to 3 percent. By the way, we’re forecasting 2.5 percent for next year, if I recall. Maybe 2.6 percent?”
7. UPSOUND (English) Steve Mnuchin, Treasury Secretary, United States:
“You’re a little conservative.”
8. UPSOUND (English) Christine Lagarde, Managing Director, International Monetary Fund (IMF):
“Always.”
9. Wide shot, Lagarde and Mnuchin
10. SOUNDBITE (English) Steve Mnuchin, Treasury Secretary, United States:
“We need to do more things for the middle class. And we need to put more money in their pocket. And, we need to simplify taxes. I mean, one of the things I do in my job is oversee the IRS – Internal Revenue Service – which reports to the Treasury. The tax code is just way, way, way too complicated and we want to create a system where the average American can do their taxes on a postcard, not a major book.”
11. UPSOUND (English) Christine Lagarde, Managing Director, International Monetary Fund (IMF):
“That sounds like a dream. And how are you going to deal with all these tax lawyers?”
12. UPSOUND (English) Steve Mnuchin, Treasury Secretary, United States:
“Maybe a big postcard. Not one of those little postcards, but you can still stick it in the mail.”
13. Wide shot, Lagarde and Mnuchin speaking
14. SOUNDBITE (English) Steve Mnuchin, Treasury Secretary, United States:
“The sanctions programs are very important. Fighting and stopping terrorist financing is some of the most important things we do right now. And, your technical assistance, the assistance that we provide people, I can tell you almost in every single one of my bilaterals, we discussed these issues. It’s absolutely critical and it works.”
15. Various shots, Lagarde and Mnuchin ending the event
The US Treasury and the IMF share many goals and maintain a strong partnership, the leaders of the two institutions announced Saturday.
US Treasury Secretary Steven Mnuchin held a one-on-one conversation with IMF Managing Director Christine Lagarde on Saturday (22 Apr) at the Fund’s headquarters in Washington during the Spring Meetings.
Mnuchin expressed support for the IMF’s role in stabilizing the world’s financial system, but also saw common purpose in combating money-laundering, corruption and fostering good governance.
He also called on the IMF to continue playing its important role in surveillance and monitoring and reporting on exchange rates and external imbalances.
The IMF has supported the idea of a simpler tax structure for the US with fewer loopholes and deductions. Mnuchin said that his goal is to build a tax system where individuals can file on a paper the size of a postcard.
The audience laughed when he then added that it may have to be “a big postcard.”
