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Russian government not supporting bill on withdrawal from IMF

According to the government, "a unilateral decision on withdrawal from the IMF and the World Bank Group is associated with significant risks in terms of the return of Russian assets invested in them and the participation in other international financial mechanisms associated with IMF programs"

MOSCOW, July 30. /TASS/. The Russian government does not support a bill on withdrawal of the country from the International Monetary Fund, with the response to the bill posted in the database of the State Duma, the lower house of the Russian legislative assembly.

The faction of the Communist Party of Russia presented the bill for review by the State Duma on July 25. The authors suggest invalidating and denouncing documents of Russia’s becoming a member of the IMF, the International Bank for Reconstruction and Development, and the International Development Association.

"A unilateral decision on withdrawal from the IMF and the World Bank Group is associated with significant risks in terms of the return of Russian assets invested in them and the participation in other international financial mechanisms associated with IMF programs, for example, the BRICS Contingent Reserve Arrangement," the government said.

The IMF and the World Bank Group also remain the largest expert floors from Russia and make possible for Russia to present its position, the Cabinet noted. "The Russian Federation Government does not support the bill on the basis of the foregoing," it added.

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