IMF rules out Russia expulsion, says it has 'no problems' with Moscow's membership status

As the Russia Ukraine war enters day 35, the International Monetary Fund has reportedly declared that it has “no problems” with Russia or its membership status. Despite the IMF’s Moscow office being shut, the organisation has now claimed that it has no problem with the country’s membership. IMF’s decision to not take a political stand against Russia comes two weeks after it warned countries of the repercussions of imposing extraordinary sanctions on Moscow.  

Over a month after the Vladimir Putin-led government in Moscow announced its military offence on Ukraine, the IMF has declared that it is not going to ban Russia’s membership from the organisation. According to Russian media RT news, IMF said that the ongoing war must end with dialogue. Kristalina Georgieva, the current managing director reportedly claimed that the only reason to suspend the country would be if it no longer recognized its govt, describing it as a ‘very tall order’.

Furthermore, Georgieva insisted that the organization wants to stick to the rules and not take action based on political stands. The IMF chief reiterated that “for the war to end there has to be dialogue.” Georgieva had earlier stated that the entire global economy would feel the economic ‘ripple effects’ of the war in Ukraine.

Stating that the war must end, she had also warned countries of weakened financial conditions due to sanctions placed on Moscow. Earlier the IMF had asserted that the depreciation of the Russian Ruble had caused inflation in the country and was pulling down the living standards of the population.

'No way out for Russia's economy': IMF rep 

Earlier last week, the IMF had stated that the Russian economy was headed for a slump. An IMF representative, while speaking about the impact of the war, had stated that the country’s economy has no ‘good’ way out as Russian President Vladimir Putin will leave following 22 years of rule. Speaking about the economic implications Moscow could suffer due to the war, Deputy Executive Director of Ukraine to the IMF Vladislav Rashkovan said that Russia has already lost the war it had waged, even if it succeeds on the battlefield.

Speaking about the Russian President, the spokesperson had said that Putin would leave the country in a ‘much worse’ condition than from when he took over. “After 22 years of Putin's rule, he will leave Russia, there is no good way out for Russia's economy,” an IMF representative said as cited by the Ukrainian media.

Image: AP