European governments slam IMF"s Russia visit as propaganda for Putin

The International Monetary Fund (IMF) is facing criticism from several pro-Ukraine European governments regarding its planned visit to Russia, which is set to occur for the first time since the full-scale invasion of Ukraine in February 2022. The finance ministers from Lithuania, Estonia, Latvia, Sweden, Finland, Denmark, Norway, Iceland, and Poland expressed their concerns in a letter to IMF head Kristalina Georgieva, arguing that the visit would be exploited by the Kremlin for propaganda purposes. They believe this action undermines the ongoing efforts to support Ukraine amidst its conflict with Russia. The letter highlights the potential reputational risks for the IMF, suggesting that the trip could signal a normalization of relations with Moscow, despite its aggressive actions in Ukraine. The ministers warned that such a perception could discourage pro-Ukraine governments from providing financial aid to Kyiv through the IMF, which is crucial for Ukraine's recovery and stability. The IMF has defended its decision to visit Russia, citing a treaty obligation to conduct consultations with its member countries under Article IV of its Articles of Agreement. This obligation requires the IMF to hold annual discussions with officials from each member nation, which the organization argues justifies the trip. As the virtual discussions are set to begin on September 16, followed by in-person meetings, the situation remains tense. The upcoming informal gathering of eurozone finance ministers in Budapest will provide an opportunity for Lithuania and other concerned nations to question Georgieva about the implications of the IMF's visit to Russia.