NBU governor calls on IMF, G7 to block use of recent distribution of SDRs for Russia, Belarus

13:09, 02.03.2022 1 min read

Governor of the National Bank of Ukraine (NBU) Kyrylo Shevchenko addressed the International Monetary Fund and G7 with a request to restrict participation of representatives of the Russian Federation and Belarus in activities of the IMF and possibilities to use its instruments and that they are blocked from access to the recent SDR distribution, as these funds may be used to finance military actions against Ukraine.

The regulator said on its website with reference to Shevchenko's letters to IMF Managing Director Kristalina Georgieva and to G7, the governor of the NBU also urged that the Executive Director for the IMF from the Russian Federation be suspended from participation in the meetings of the IMF Board of Directors.

In addition, Shevchenko urged that the Russian and Belarusian delegations be banned from attending Spring Meetings of the International Monetary Fund and World Bank Group.

"It is extremely important for us to do everything possible for the Russian financial sector to feel all the consequences of Russia's aggression against Ukraine," the governor of the NBU said.