MOSCOW, April 8. /TASS/. Russian Deputy Finance Minister Ivan Chebeskov has urged the International Monetary Fund (IMF) to carry out an in-depth and unbiased assessment of the consequences of tariff restrictions and sanctions policy for the global monetary and financial system, the official said following a Saudi Arabia-headed meeting of the International Monetary and Financial Committee (IMFC) in Riyadh. The meeting took place amid tariffs recently announced by the US.

In particular, the participants of the meeting came to the conclusion that it is necessary to move away from the policy of boosting debt and shift to budget consolidation and mobilization of domestic resources.

Moreover, as part of "high-level" discussion sessions, IMFC representatives considered issues faced by the global economy due to geopolitical and economic uncertainty, the high level of state debt, and fragmentation.

"Transformation factors opening substantial opportunities, concurrently representing risks for the global economy, were also noted. Among them are artificial intelligence, digitalization, and demographic shifts," Russia’s finance ministry added.

Russia backed Saudi Arabia’s presidency in the IMFC and the kingdom’s firm commitment to multilateral cooperation and the promotion of interests of countries with emerging economies.

"The IMFC is a key body ensuring the strategic management of the work and policy of the International Monetary Fund. Member states shared views on the Fund’s current activities and its Global Policy Agenda medium-term priorities," the ministry stressed.

A declaration will be prepared following the meeting, which will be an appendix to the communique of the IMFC’s plenary meeting. The meeting will take place on April 25 within the framework of the spring meeting of governing bodies of the IMF and the World Bank.