The head of the International Monetary Fund, Kristalina Georgieva, announced the IMF's intention to interact with Russia on economic issues for the first time since the full-scale invasion of Ukraine. Some EU members are outraged by such an unexpected decision.
Points of attention
- The IMF decided to resume cooperation with Russia on economic issues, causing outrage in some EU countries.
- European diplomats regard this decision as an offer to the dictator Putin.
- The IMF plans to hold online negotiations with the Russian authorities and send a mission for face-to-face meetings.
The EU wants to challenge the IMF's decision regarding Russia
As the journalists managed to find out, during the meeting of the ambassadors of the European Union, France, Belgium and Poland, as well as several Baltic and Northern European countries, expressed their dissatisfaction.
Representatives of these countries do not hide that they were shocked by the IMF's intention to resume annual economic reviews with Moscow.
Official Vilnius has already stated that he wants to discuss this situation directly with Georgieva during a meeting in Budapest on September 13.
According to European diplomats, they see the decision as an offer to dictator Putin of economic aid and the appearance of legitimacy, while the EU and the US seek to isolate Russia.
The representative of Lithuania also said during the meeting that the first mission of a major international organization to Russia since the full-scale invasion in February 2022 could be used as propaganda by Moscow to show that its international isolation is loosening.
According to the journalists, the heads of the Ministries of Finance of the Northern European and Baltic countries, as well as Poland, sent a letter to Georgieva, hoping that she would abandon the mentioned step.
How the IMF comments on its decision regarding Russia
The IMF began to claim that they plan to resume annual reviews of the Russian economy, as the economic situation in the region is "more stable" than before.
What is important to understand is that this review, known as an Article IV evaluation, is a "mutual obligation" between the foundation and its members.
An Article IV assessment is not an option, but an institutional obligation of the fund that is carried out in the interests of all members, the IMF said in its response.
In addition, the Fund added that its staff will begin online negotiations with the Russian authorities on September 16, and then visit the country for face-to-face meetings.
According to preliminary data, this visit should begin on October 1. One of the insiders said that the IMF tried to convince Russia to hold meetings in a third country.
