The International Monetary Fund (IMF) has delayed its planned mission to Russia indefinitely due to “technical reasons”, Aleksei Mozhin, Russia’s Executive Director at the IMF, Russian media and Liga.net reported on Sept. 18.
The mission, initially intended to begin consultations under Article IV of the IMF’s charter, was set to start – but then the Russian side and its Board of Directors were informed of a postponement.
While the IMF officially cited “lack of technical readiness” as the reason, Mozhin noted that Russian officials were well aware of public statements made by several European countries slamming any resumption of cooperation between the IMF and Russia, particularly amid ongoing war in Ukraine.
The last IMF’s Article IV consultation in Russia took place in May 2019, with a follow-up mission in November 2019 to discuss the country’s economic outlook and policy. On Sept. 11, 2024, reports emerged that the IMF was set to restart these missions for the first time in five years, citing increased economic stability in Russia after a period of instability following the 2022 invasion of Ukraine.
The IMF explained that Russia’s economic situation had stabilized enough to resume these routine consultations, which are required under Article IV for all member states.
However, the decision sparked backlash from Ukraine’s Foreign Ministry, as well as from its central bank and finance ministry, all of whom expressed concern about the move.
The European Union and Estonia also voiced their objections, with some in the EU suggesting that the IMF’s willingness to engage with Russia might even send the wrong message to the Kremlin.
“The IMF explained that Russia’s economic situation had stabilized enough to resume these routine consultations, which are required under Article IV for all member states.”
I would like to know the definition of “stabilised” used by this corrupt organisation. Mafia land have released minimum figures since the invasion into Ukraine. They have the third highest interest rate in the world, inflation is rampant and the scum will run out of money by next year.
Many with vested interests in mafia land will gladly swallow any numbers the mafiosi will make public. The question is not if the house of cards will collapse, but when.
I would like to know why the ruSSia is even a member. All they do is talk about globalism and foreign influence…then whine when they don’t have it. Ah, the evil West but we vacation in Miami, send our kids to college in London, drink Coca Cola, use Apple phones, wear Levis and drive Jeeps…