Several European countries objected over Moscow's war in Ukraine
18 September 2024 - 20:18
byLidia Kelly and David Lawder
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
The IMF's headquarters in Washington, the US Picture: REUTERS/YURI GRIPAS
New York — The IMF said on Wednesday it has postponed planned economic consultations with Russia that were due to start this week.
The IMF had planned to conduct its routine article 4 assessment of Moscow’s economic policies for the first time since Russia launched its invasion of Ukraine in February 2022, but several European countries had objected to the re-engagement.
“Article 4 consultations with Russia have been postponed while we gather all the necessary data and analysis for a rigorous consultation,” an IMF spokesperson said in a brief emailed statement.
The statement provided no further details on timing for the consultations, which are an annual requirement of IMF membership. The IMF's last annual mission visited Russia in November 2019, before the start of the Covid pandemic and Russia's assault on Ukraine.
Earlier on Wednesday, Russia’s state Tass agency quoted Alexei Mozhin, Russia’s director at the IMF, as saying the consultations had been postponed for technical reasons.
“The fund’s management notified the Russian side and the board of directors that the mission’s work would be postponed indefinitely,” Mozhin said. “Technical unpreparedness of the mission to conduct consultations was mentioned as the reason for postponing the mission.”
Ukraine and its Western allies had objected to the mission to Russia on grounds that it would show relations with Russia to have been normalised despite the invasion and occupation of vast tracts of Ukrainian territory.
According to the Tass report, the IMF’s decision was communicated on Monday, the day the mission had intended to begin online consultations. These were to have been followed by an IMF delegation visit to Moscow for meetings with Russian officials.
Mozhin told Tass the Russian side was “well aware” that many European countries “had spoken out about the unacceptability of the resumption of co-operation between the IMF and Russia and the unacceptability of conducting such consultations”.
Preparations for conducting the consultations at issue had taken place more than a year ago and Russia, while never requesting a mission, was prepared to receive one as part of its obligations under IMF rules, Mozhin said.
“The Russian side hereby again confirms its preparedness,” he added.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
IMF ditches mission to Russia
Several European countries objected over Moscow's war in Ukraine
New York — The IMF said on Wednesday it has postponed planned economic consultations with Russia that were due to start this week.
The IMF had planned to conduct its routine article 4 assessment of Moscow’s economic policies for the first time since Russia launched its invasion of Ukraine in February 2022, but several European countries had objected to the re-engagement.
“Article 4 consultations with Russia have been postponed while we gather all the necessary data and analysis for a rigorous consultation,” an IMF spokesperson said in a brief emailed statement.
The statement provided no further details on timing for the consultations, which are an annual requirement of IMF membership. The IMF's last annual mission visited Russia in November 2019, before the start of the Covid pandemic and Russia's assault on Ukraine.
Earlier on Wednesday, Russia’s state Tass agency quoted Alexei Mozhin, Russia’s director at the IMF, as saying the consultations had been postponed for technical reasons.
“The fund’s management notified the Russian side and the board of directors that the mission’s work would be postponed indefinitely,” Mozhin said. “Technical unpreparedness of the mission to conduct consultations was mentioned as the reason for postponing the mission.”
Ukraine and its Western allies had objected to the mission to Russia on grounds that it would show relations with Russia to have been normalised despite the invasion and occupation of vast tracts of Ukrainian territory.
According to the Tass report, the IMF’s decision was communicated on Monday, the day the mission had intended to begin online consultations. These were to have been followed by an IMF delegation visit to Moscow for meetings with Russian officials.
Mozhin told Tass the Russian side was “well aware” that many European countries “had spoken out about the unacceptability of the resumption of co-operation between the IMF and Russia and the unacceptability of conducting such consultations”.
Preparations for conducting the consultations at issue had taken place more than a year ago and Russia, while never requesting a mission, was prepared to receive one as part of its obligations under IMF rules, Mozhin said.
“The Russian side hereby again confirms its preparedness,” he added.
Reuters
ADEKEYE ADEBAJO: SA’s turn as G20 head is a chance to push African priorities
NICHOLAS SHUBITZ: Resource-rich Brics bloc now in a better position than the G7
BIG READ: Ukraine’s fight is for the world as we know it
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most Read
Related Articles
EU to target groups funding flow of Russia war products, envoy says
Drone attack triggers earthquake-sized blast in Russia
Meta pulls plug on Russian state media outlets
Russia threatens West and Ukraine as long-range strike decision mulled
Russia targets rail, transport hubs across Ukraine
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.