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.
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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.
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