https://en.sputniknews.africa/20241025/imf-world-bank-risk-losing-influence-if-they-remain-politicized-russian-official-says-1068880181.html
IMF, World Bank Risk Losing Influence If They Remain Politicized, Russian Official Says
IMF, World Bank Risk Losing Influence If They Remain Politicized, Russian Official Says
Sputnik Africa
WASHINGTON (Sputnik) - During an interview on the sidelines of IMF-WB annual meetings in Washington, Chebeskov said that it is hard to predict whether the... 25.10.2024, Sputnik Africa
2024-10-25T18:33+0200
2024-10-25T18:33+0200
2024-10-25T18:33+0200
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The Internal Monterrey Fund and World Bank are risking losing their influence unless they abandon political bias, Russian Deputy Finance Minister Ivan Chebeskov told Sputnik. The lack of reform of the global financial system will fuel further fragmentation to the detriment of the world economy, he continued.Russia and other partner countries would not like to see this happen, but the actions of Western countries that are trying to use the Bretton Woods institutions as an instrument to maintain their influence "leave no other choice but to take a different path, look for an alternative," he noted.Russia is not seeking to fight the US dollar, Chebeskov told Sputnik.He added that using the dollar as a "political stick" would lead to fewer people using this currency.
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IMF, World Bank Risk Losing Influence If They Remain Politicized, Russian Official Says
WASHINGTON (Sputnik) - During an interview on the sidelines of IMF-WB annual meetings in Washington, Chebeskov said that it is hard to predict whether the Bretton Woods institutions will be able to adapt to the current realities.
The
Internal Monterrey Fund and World Bank are risking losing their influence unless they abandon political bias, Russian Deputy Finance Minister Ivan Chebeskov told
Sputnik.
"If the politicization of these institutions continues, if there is no fair distribution of roles, including leadership roles, in these institutions to involve developing economies, their role will gradually decline," Chebeskov said.
The lack of reform of the
global financial system will fuel further fragmentation to the detriment of the world economy, he continued.
"During a G20 meeting, our colleagues just spoke about this: if the international monetary and financial system does not change, if it does not transform and adapt, alternatives will be created, and further fragmentation and deglobalization will follow," Chebeskov said on the sidelines of IMF-WB annual meetings in Washington.
Russia and other partner countries would not like to see this happen, but the
actions of Western countries that are trying to use the Bretton Woods institutions as an instrument to maintain their influence "leave no other choice but to take a different path, look for an alternative," he noted.
"In my opinion, this is not good for the world economy," Chebeskov added.
"As our president and finance minister have said, we have no goal to fight the US dollar, and we are not fighting it," Chebeskov said.
He added that using the dollar as a "political stick" would lead to fewer people using this currency.
"Several American economists and investment fund managers predict that at some point, the dollar will lose to the Chinese currency. But I think we don’t make such predictions, we look at the reality, understand where this trend is heading, and we work in line with this trend," Chebeskov said.
