You may not have heard, but the International Monetary Fund (IMF) is planning to send a mission to Russia. This may come as a surprise, as top IMF officials have been trying to keep this under wraps. This should raise some red flags.
The IMF is set to send its first official mission to Russia since the start of the full-scale invasion of Ukraine in February 2022. This visit, led by Deputy Head of Division Jacques Miniane, marks a significant shift in the Fund’s approach towards Russia. Despite pressure from Western nations to drop the idea of sending missions in 2022 and 2023, the IMF is now reengaging with Moscow, even as Russia continues its war in Ukraine.
This decision is a major diplomatic victory for the Kremlin, even though the IMF is acting as if it’s business as usual. The Fund has tried to keep the mission low profile, and we only know about it because of a casual comment made to Reuters by the head of the IMF’s Russia department. A brief press release from the IMF went largely unnoticed by the media.
The IMF claims to be apolitical, but its actions show a blatant disregard for international law and human rights. The invasion of Ukraine is not a matter of policy debate; it is a crime. By engaging with Moscow now, the IMF is sending a message that Russian actions can be overlooked. This is not neutrality; it is complicity.
Managing Director Kristalina Georgieva and the IMF leadership are detached from the brutal realities of the ongoing war. They are focused on a vision for a postwar order where peace and stability prevail. However, this vision is built on arrogance – the belief that IMF bureaucrats understand the future better than anyone else.
In reality, by attempting to normalize relations with Russia, the IMF is strengthening the country and prolonging the war, while also emboldening future aggressions. The IMF sees Russia’s war on Ukraine as irrelevant to its policy mandate, but the war cannot be ignored. It is reshaping Europe’s economy and destabilizing global markets.
By choosing to turn a blind eye to this grim reality, the IMF is effectively enabling Russia’s actions. This mission to Moscow sends a clear message: Russia can count on the IMF’s support, even as it continues its war.
The IMF’s role is to promote global economic cooperation and stability, not to ensure the financial stability of an aggressor state. If the IMF takes actions to boost Russia’s economy, it will only strengthen Moscow’s ability to continue the war.
The only way to bring this war to a just end is by crippling Russia’s war machine. The rest of the international community – except for the IMF, apparently – understands this well. That is why Western governments have imposed a vast array of sanctions on Russia. Undermining the Russian economy is crucial in ending this war.
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