Janet Yellen, US Secretary of the Treasury (REUTERS / Leah Millis)
Before the International Monetary Fund (IMF) tomorrow, the United States will denounce the “attack on fundamental international laws” that Russia’s invasion of Ukraine entails and its “illegal and unprovoked” war.
US Treasury Secretary Janet Yellenattending the spring meeting that the IMF is holding in Washington this week, in a statement this Wednesday conveyed the message it will deliver to the Fund’s other members and directors at the meeting of the Monetary and Financial Committee (IMFC, for its English acronym), which will take place tomorrow.
“Russia’s war on Ukraine has jeopardized the global recovery from the pandemic and exacerbated inflation, with vulnerable populations around the world suffering the impact of rising food prices.”Yellen said in her statement.
This Tuesday, leaders of the International Monetary Fund, the World Bank (WB) and other organizations urged the world to act quickly to stop the food crisis that is hitting the poorest and is the result of price spikes due to the war in Ukraine. .
The World Bank’s index, which measures global food prices, posted a record 37% increase in March compared to the same month last year, while the cost of pesticides rose 20% in March compared to January, some increases the World Bank President noted David Malpassattributed to the war in Ukraine: “Russia’s invasion of Ukraine has posed a major threat to world food security in the short term.”
Kristalina Georgieva stated that it is currently not possible to exclude Russia from the IMF (REUTERS / Remo Casilli)
Almost since the Russian invasion began on February 24, the United Nations and other organizations have warned that the war could be a very hard blow to many countries, given the rise in fuel prices it has caused and because both Russia and Ukraine two of them are the world’s largest grain and fertilizer producers.
Among other things, Russia and Ukraine account for more than half of the world supply of sunflower oil and 30% of the wheat supply.
For her part, the US Treasury Secretary already pledged on April 6 before the US House of Representatives to denounce Russia’s actions in Ukraine at the urging of Republican lawmakers, who called on Yellen to turn Russia into a pariah country of international financial institutions.
Excluding Russia from the IMF and World Bank was an idea that had been suggested by various quarters since the Russian invasion of Ukraine began on February 24, but the fund’s executive director, Kristalina GeorgievHe said at a press conference in early March that this was not possible.
Georgieva noted that the statutes of the institution provide only for violating its financial obligations to expel a member, which the Russians have not done so far.
Russia is one of the members of the Fund’s Monetary and Financial Committee, which will meet tomorrow and whose session will be chaired by the First Vice President of the Spanish Government and Minister of Economy and Digital Transformation. Nadia Calvino.
World Bank warned that Russian invasion of Ukraine poses huge threats to global food and nutrition security (REUTERS / Alexander Ermochenko)
This Wednesday, the finance heads of the United States, the European Union (EU) and France, among others, walked out of a G20 meeting in a hybrid format in Washington to protest Russia’s presence and its invasion of Ukraine, EFE told US agency , EU and French sources.
Yellen himself, French Finance Minister Bruno Le Maire and the EU Commissioner for Economic Affairs, Paolo Gentiloniwere some of the leaders who expressed their opposition to Russia’s participation in the meeting and left the meeting when it had already started.
Yellen and Gentiloni in particular rose from their chairs as the Russian finance minister began to speak, Anton Siluanovexplained US and community sources.
(With information from EFE)
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