Lithuania and like-minded countries condemn the IMF's decision to resume cooperation with russia
Taking into account the intentions of the International Monetary Fund (IMF) to resume cooperation with russia by carrying out economic consultations and visiting the aggressor country in order to meet with the country’s institutions and officials, Lithuania, together with other countries in the region, strongly condemned these IMF plans. Lithuania's, Latvia's, Estonia's, Finland's, Denmark's and Sweden's, Norway's, Iceland's and Poland's finance ministers appealed to IMF Managing Director Kristalina Georgieva to review the decision taken.
"We are shocked by this decision by the IMF management, and we believe that any resumption of cooperation with russia would be a sign that a step towards normalisation of relations with the aggressor is being taken as the russian aggression in Ukraine continues. Together with our fellow ministers, we are convinced that the aggressor country should not receive insights and advice from international institutions such as the IMF on economic and financial matters. The Fund poses huge reputational risks to itself as the russian regime will undoubtedly use this step for propaganda purposes in order to substantiate the narrative on the resilience of the country’s economy to Western sanctions,” Minister of Finance Gintarė Skaistė stated.
The joint letter by the ministers stresses that the IMF's mission to russia would make it the first international financial institution to resume cooperation with russia after 24 February 2022, when russia launched its brutal war against Ukraine.
Lithuania, together with partner countries, will also discuss this issue with IMF Managing Director Kristalina Georgieva at the informal ECOFIN meeting in Budapest. The Finance Ministers of Lithuania, Latvia, Estonia, Finland, Denmark and Sweden, Norway, Iceland and Poland addressed a joint letter to the Fund, urging it to respect the objectives of the United Nations Charter and to refrain from any resumption of cooperation with russia as long as the country continues its war against Ukraine.
Last updated: 23-09-2024
Related news:
S&P Global Ratings confirmed Lithuania’s credit rating
Defence bonds were distributed for EUR 80.5 million across recent issues