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IMF rules out suspension of Russia unless members are unaware

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IMF rules out suspension of Russia unless members are unaware

Washington, March 30 (Prensa Latina) The Director of the International Monetary Fund (IMF) Kristalina Georgieva assured her organization “has no problems with Russia” and that her board can only suspend the country if the members of the fund say that they no longer recognize the government
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¨It is a very high order,¨ Ms. Georgieva commented during her speech at the World Summit of Governments in Dubai, in response to the question about the consequences against Russia for its war in Ukraine.

That financial organization stated that it has no problems with Russia, and stated that the economic consequences are already too serious and may worsen in the future with prospects subject to extraordinary uncertainty.

Last week, the IMF warned that the prices of energy and raw material, including wheat and other grains, ramped up, adding to inflationary pressures due to problems in supply chains and recovery from the Covid-19 pandemic.

She also considered that a possible suspension of payments by Russia, due to US sanctions, would have an unlimited effect on a global scale.

Sanction severed Moscow’s ties to global financial system, banning most transactions except for debt payments and oil purchases, and freezing $300 billion of foreign exchange reserves held by the Russian government abroard.

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