NBU urges IMF to suspend Russia’s access to the fund
The National Bank of Ukraine has urged the IMF and G7 to restrict Russian and Belarusian membership in the fund, and their access to its financial instruments, the NBU said on March 2.
In a letter to IMF’s Managing Director Kristalina Georgieva, the NBU called for the following measures:
- Suspend the Managing Director of IMF Russia from the meeting of the Council of Directors.
- Block Minsk and Moscow from accessing Special Drawing Rights, to prevent the attacking countries from using these funds to finance their war on Ukraine.
- Ban Russian and Belarusian delegations from upcoming Spring IMF and World Bank sessions.
“It’s important to us to do everything (we can) to make sure Russian finances suffer the consequences of Russian aggression against Ukraine,” said Kyrylo Shevchenko, the NBU’s Governor.
According to earlier reports, IMF is preparing additional emergency assistance packages for Ukraine.
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