Moscow, Sept 4: The International Monetary Fund (IMF) is set to send its first official mission to Russia since the country’s invasion of Ukraine in February 2022. This marks a significant development, as the IMF has not conducted an on-the-ground mission in Russia since the outbreak of the conflict.
Aleksei Mozhin, the IMF’s Russian executive director, confirmed the mission will commence online on September 16, followed by a delegation visit to Moscow to meet with Russian officials until October 1. This will be the first IMF mission to Russia since the last one in November 2019, prior to the COVID-19 pandemic.
Mozhin indicated that the IMF was previously excluded from visiting Russia due to pressure from Western nations. The mission will be led by Argentinian Jacques Miniane.
The decision to send the mission comes amid ongoing discussions about Russiaās status within the IMF. Although some Western countries have advocated for Russiaās expulsion, this has been complicated by opposition from other member states, including China and India, which have large voting shares in the organization.
The IMF has faced criticism from Western members for its forecasts regarding Russia’s economy and for its stance on the legal aspects of seizing frozen Russian assets.
Mozhin, who has been with the IMF since Russia’s accession to the organization in 1992, will step down from his position on November 1. He will be succeeded by central banker Ksenia Yudaeva, who is currently under U.S. sanctions. Yudaeva, a prominent figure in Russia’s economic reforms, will initially manage the IMF office from Moscow.