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About half of the delegates left the room on Saturday as Russian Finance Minister Anton Siluanov spoke at an International Monetary Fund (IMF) meeting in Bangkok. The incident highlighted divisions over Moscow’s war in Ukraine, AnewZ reported.
According to people attending the meeting, representatives of the UK, Germany, France, Denmark, Sweden, Finland, Norway, Lithuania, Latvia and Estonia left the International Monetary and Financial Committee (IMFC) room while Siluanov spoke in Russian. Two participants said European Central Bank President Christine Lagarde remained in the room.
Saudi Finance Minister Mohammed Al-Jadaan, who chairs the IMFC, confirmed that delegates had left. He told Reuters that the main point was that members ultimately adopted the chair’s statement: “We came here for a purpose and we achieved that. Look at the chair’s statement: it clearly says all members agreed to the statement. That is what matters.”
Bundesbank President Joachim Nagel said about 50% of delegates had left, calling it a strong message to Moscow. “This is a very strong signal of solidarity and values. Ending the unjustified war of aggression against Ukraine would be best for the global economy,” Nagel said on the sidelines of the meetings. He also said he was proud that so many delegates had left the plenary session.
Ukrainian central bank Governor Andriy Pyshnyi told Reuters he was surprised by the number of officials who left, describing it as a “profound and emotional moment.” The Bank of England confirmed that its Governor Andrew Bailey was among those who walked out. The UK is preparing to host the G20 next year.
A European diplomat said: “The war in Ukraine is an existential issue for us in Europe. We cannot normalize relations with Russia.”
Disagreement over Russia’s return to international events
Since Russia’s February 2022 invasion of Ukraine, reaching consensus at the IMFC has repeatedly become more difficult. Divisions resurfaced this week, as tensions between the United States and Ukraine also intensified.
After Siluanov took part in a meeting of G20 finance ministers and central bank governors, Germany warned on Thursday against efforts to bring Russia back onto the international stage. The warning came just over a month after the United States hosted the first in-person G20 meeting attended by Siluanov since the invasion, in Asheville, North Carolina.
Erin Brown, a U.S. Treasury deputy secretary, said Washington, which currently holds the G20 presidency, supports Russia’s participation. She told Reuters: “If you want to resolve a crisis, open dialogue and an exchange of views are critically important. If no one talks to each other, there can be no dialogue and no resolution of conflict.”
The meetings are taking place a day after Ukrainian President Volodymyr Zelenskyy criticized U.S. President Donald Trump’s latest diesel fuel deal with Russia at a European Union summit.
IMF chief highlights concerns about the global economy
At a news conference concluding the IMF and World Bank annual meetings, Al-Jadaan said the global economy had shown “remarkable resilience” despite wars, threats to energy and food security, high public debt and risks related to the rapid development of artificial intelligence.
“The message from IMFC members is clear: there is no room for complacency,” he said. Al-Jadaan urged governments to rebuild fiscal buffers while protecting vulnerable groups and growth-supporting investment. He stressed the importance of central bank independence and growth led by the private sector. Members also called for more support for countries facing short-term financing difficulties caused by the effects of wars and high energy prices.
“International cooperation remains essential to address excessive global imbalances and trade tensions,” Al-Jadaan said.
IMF Managing Director Kristalina Georgieva called the meetings productive. However, she said members were increasingly concerned about widening economic disparities, noting that many low-income countries outside the artificial intelligence supply chain feared being left behind.
“These meetings also showed that, in a world of repeated shocks and geopolitical fragmentation, multilateral dialogue and cooperation are still needed,” Georgieva said.
