Global RiskNews Briefs

Russia seeks Brazil’s help to prevent expulsion from IMF, World Bank

Russia has asked Brazil for support in a letter in the World Bank, International Monetary Fund and the G20 group of top economies. Russia was hoping this support would help counter the sanctions imposed by the West since it invaded Ukraine. Russian Finance Minister Anton Siluanov wrote to Economy Minister Paulo Guedes in his plea for support. 

Siluanov asked for support against political accusations and discrimination and beleives that the IMF and World Bank are taking steps to limit Russia’s involvement in decision-making processes. The letter was sent on March 30th and made no mention of the war with Ukraine. Last week, the United States said it would not participate in any G20 meetings if Russia was present. Many of Russia’s foreign transactions are blocked and approximately half of its international reserves have been frozen.

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