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IMF steering committee skips communique after Russia blocks war language – Metro US

IMF steering committee skips communique after Russia blocks war language

FILE PHOTO: The International Monetary Fund logo is seen inside
FILE PHOTO: The International Monetary Fund logo is seen inside its headquarters at the end of the IMF/World Bank annual meetings in Washington

(Reuters) – Russia’s refusal to agree to strong language condemning its war in Ukraine prevented the steering committee of the International Monetary Fund from issuing a formal communique during its meeting this week, the chair of the committee said on Thursday.

“Russia’s war against Ukraine has made it impossible to come to a consensus on a communique,” Spanish Economy Minister Nadia Calvino told a news conference at the IMF and World Bank spring meetings in Washington.

Instead, Calvino read a statement summarizing the meeting of the steering committee. A divisive meeting of Group of 20 finance officials on Wednesday also did not result in a communique due to disagreement with Russia.

The 24-member International Monetary and Financial Committee meets twice a year at the spring and fall meetings of the IMF and World Bank, and advises the IMF Board of Governors. While it has no formal decision-making powers, the IMFC’s regular communiques provide strategic direction for the Fund’s work.

(Reporting by Andrea Shalal, Dan Burns and Lindsay Dunsmuir; Editing by Paul Simao)

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