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The head of the National Bank of Ukraine appealed to the IMF with a proposal to restrict Russia's access to the Fund's resources

We demand to suspend meetings and to block access to resources

The head of the National Bank of Ukraine appealed to the IMF with a proposal to restrict Russia's access to the Fund's resources
Kirill Shevchenko speaks in parliament, July 16, 2020
Photo: RBK

The Chairman of the National Bank of Ukraine Kyrylo Shevchenko appealed to the International Monetary Fund and the G7 countries to limit the participation of representatives of the Russian Federation and Belarus in the activities of this organization and the possibility of using its instruments.

According to the official website of the National Bank this is stated in the letters of the NBU Chairman to the Managing Director of the IMF Kristalina Georgieva and the G7 countries.

"We urge:

  • to remove the Executive Director of the IMF from the Russian Federation from participation in the meetings of the Board of Directors of the IMF;

  • to block the possibility of using the recent distribution of SDRs for Russia and Belarus, as these funds can be used to finance hostilities against our state;

  • to ban Russian and Belarusian delegations from participating in the Spring Meeting of the IMF and the World Bank Group", the statement says.

"It is extremely important for us to do everything possible for the Russian financial sector to feel all the consequences of Russia's aggression against Ukraine", the NBU Chairman has stressed.

As reported, the IMF, which has a $ 2.2 billion support program for Ukraine until June, will consider immediate funding next week.

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