The IMF Committee could not issue a joint statement
Nadia Calvino, Chairwoman of the International Monetary and Financial Commission (IMFC) – Photo: FINANCE WATCH
According to Kyodo News, at the press conference that followed, Since the IMFC works by consensus, it cannot reach an agreement if “one member disagrees,” said Nadia Calvino, chair of the IMF’s International Monetary and Financial Committee (IMFC).
Before Calvino’s remarks, two sources told Reuters news agency that the IMFC was unable to issue a joint statement because of objections from Russia.
The draft joint statement is expected to strongly condemn the conflict in Ukraine and Russia’s “special military operation”.
In lieu of a joint statement, the IMFC issued a chairperson’s statement, saying that the global economic recovery was being held back by new variants of SARS-CoV-2, the virus that causes COVID-19.
The presiding statement also noted the world’s recovery in the face of the Russo-Ukrainian war and the division it caused.
According to Kyodo News, Ms. Calvino also welcomed the IMF’s recent decision to establish a Resilience and Sustainability Trust (RST) to assist low-income member countries.
Also at the press conference, IMF managing director Kristalina Georgieva expressed gratitude to 12 countries, including Japan, that have offered to support a total of 40 billion USD for the trust fund.
The UK, Canada, China, France, Germany, Italy, the Netherlands, Saudi Arabia, Japan, Korea, Spain and Switzerland have all contributed to RST.
Late on April 21, the IMF and the World Bank held a roundtable discussion on increasing assistance to Ukraine.
In her opening remarks, IMF Managing Director Kristalina Georgieva said her organization estimates that the Ukrainian government and economy will need about $5 billion a month over the next two to three months to continue operating during the crisis. sudden.
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