The International Monetary Fund announced today that it has postponed planned economic consultations with Russia that were due to begin this week, to gather more data and analysis to ensure “a challenging consultation.”
The IMF had planned to conduct the standard “Article IV” assessment of Moscow’s economic policy for the first time since Russia launched its invasion of Ukraine in February 2022, but several European countries had opposed the re-approach.
“Article IV consultations with Russia have been postponed as we gather all the necessary data and analysis for a demanding consultation,” an IMF spokesman said in a brief emailed statement.
The announcement did not provide further details on the timing of the consultations, which are an annual requirement for IMF members. The last annual IMF mission to visit Russia was in November 2019, before the start of the Covid-19 pandemic.
Earlier today, the state-run TASS news agency quoted Alexei Mozin, Russia’s director at the IMF, as saying the talks had been postponed for technical reasons.
“The management of the Fund has informed the Russian side and the board that the work of the mission will be postponed indefinitely,” Mozin said. “The mission’s technical lack of preparation to hold consultations was cited as the reason for the mission’s postponement.”
Ukraine and its Western allies had opposed the mission’s visit to Russia on the grounds that it would show that relations with Russia have normalized despite the invasion and occupation of vast swaths of Ukrainian territory.
According to the TASS report, the IMF announced its decision on Monday, the day it had planned to start consultations online. These consultations would be followed by an IMF mission visit to Moscow for meetings with Russian officials.
Mozin told TASS that the Russian side is “well aware” that many European countries “have spoken about the inadmissibility of resuming cooperation between the IMF and Russia and the inadmissibility of holding such consultations.”
Preparations to hold the disputed consultations began more than a year ago, and Russia, while it never requested a mission visit, was ready to host it under its obligations under IMF rules, Mozin said.
“The Russian side confirms its readiness again,” he added.
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