IMF Board of Directors' member opposes visit of IMF mission to Russia
Illustrative photo (Getty Images)
The head of Estonia's Central Bank has joined a group of European finance ministers in criticizing the International Monetary Fund's (IMF) plan to resume its review of the Russian economy for the first time since the invasion of Ukraine, citing Bloomberg.
Madis Muller, Estonia's representative on the IMF’s Board of Directors, said in a written declaration that "an aggressor state that flagrantly violates international norms and agreements should not receive a share of the benefits offered by international institutions."
Last week, the IMF announced that it would resume its annual reviews of the Russian economy, citing that the economic situation is "more settled" than before. The IMF claims that the review, known as the Article IV consultation, is a "mutual obligation" between the fund and its members.
According to informed sources, at a meeting of EU envoys last week, France, Belgium, Poland, and several Baltic and Northern European countries expressed surprise at the IMF’s decision.
A group of nine Baltic and Northern European countries also sent a letter to IMF Managing Director Kristalina Georgieva, voicing their concerns about a process they said risks normalizing relations with Moscow.
The IMF announced its staff would begin virtual discussions with Russian authorities on September 16, followed by a visit to the country for in-person talks. The visit is scheduled for October 1.
