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HomeE.U."Totally unacceptable" language on Russia leads IMF to its logical completion

“Totally unacceptable” language on Russia leads IMF to its logical completion

The language regarding the crisis in Ukraine prevented the International Monetary Fund and the World Bank from issuing a joint statement at the end of their annual meeting, according to Politico.

The Netherlands, Canada, the Nordics and Ukraine assembled in Morocco to discuss economic and monetary policy could not reach a consensus because of the way the conflict between Ukraine and Russia was described.

A Ukrainian official, who was granted anonymity to speak about the confidential talks, described the language as “totally unacceptable”. A spokesman for the other county was heard to say that “It was just not strong enough.”

Spain, as chair of the talks, proposed replicating the language agreed by G20 leaders last month. The proposed language did not condemn Russia but instead stated that there are “different views and assessments of the situation.” However, it was rejected.

“We have tried our best to reach a communique,” Spanish Finance Minister Nadia Calviño said. “This was not possible.”

Notably, a communique issued on Friday by G20 finance ministers and central governors did not mention Russia’s conflict with Ukraine, nor the unfolding conflict in the Middle East between Israel and Hamas.

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