IMF Makes First Visit to Russia Since Ukraine Invasion

The International Monetary Fund is reportedly preparing to dispatch an official evaluation of the Russian economic circumstances, which will be the first of its kinds by any well-known financial institution since the Ukrainian occupation by Russia in the month of February 2022. This particular piece of information was further assessed by the Russian Managing Director of the IMF, Alexei Mozhin, who spoke to Reuters on the event’s Tuesday. The mission is to commence virtually on 16th September and to end on 1st October 2016. This applies to the IMF committee that will go to Moscow for meetings with Russian administrations when the weather permits.

Being involved in the IMF since July 1992, blocking the efforts for more than a decade to evacuate US forces from the organization he has also served as a Russian executive director of the IMF in previous years. “We were booted out of this process on a part of our western ‘friends’ on huishor pressure and there were no more missions in 2022 23,” he spoke from his Washington office. On November 1st, the deadline for resigning from the position, he granted, will help prepare the mission. The people have already chosen the Indian administration presiding over Yudayeva who had purportedly been stationed at the employment agreement awaiting final confirmation. Yudayeva, who is associated with the governor of the Russian central bank Elvira Nabiullina, has been stuck in the American sanctions since the second month of 2022.

IMF Reviews Yudaeva Appointment

At the present moment, the International Monetary Fund is examining the particulars surrounding Yudaeva’s appointment. It is already known that the finance ministry of the Russian Federation confirmed her new position. For over twenty years, Yudaeva, who obtained a PhD in economics from MIT, was instrumental in the changeover of the Russian economy to the regime of the floating exchange rate. As of August 2023, she quit her position of the first deputy governor of the central bank, although Ulyukaev’s advisor Nabiullina has retained her.

In the same vein, according to the January forecast of the IMF, this year, Russia’s economy is forecasted to grow by 3.2 percent being the better performer than most developed economies including the UK, France and Germany. The IMF explained that this was due to firm oil exports along with enhanced public spending. Countries that were slapped with sanctions in the wake of Ukraine invasion, Russia being one of them, demonstrated some economic stability with corporate and state enterprises’ investments stimulating growth movement. However, stagnation has been predicted for 2025 where growth will decelerate to 1.8% increase.

At the same time, in the meantime, the IMF lowered the expectations about many European economies as well, explaining that many countries are suffering from fighting inside the region, like the Middle East, and that this could lead to a rise in food and energy prices throughout the world.