Bank of England's Bailey joins Saturday IMF walkout over Russia's Siluanov
Bank of England Governor Andrew Bailey joined a walkout at an IMF meeting in Bangkok on Saturday as Russia's finance minister spoke, The Guardian and Reuters reported. Nearly half of the delegates left the room, Germany's central bank chief said. The chair said all members still backed the final statement.
Bank of England Governor Andrew Bailey was among finance leaders who walked out of an International Monetary Fund meeting in Bangkok on Saturday as Russian Finance Minister Anton Siluanov addressed the group, The Guardian and Reuters reported. The Bank of England confirmed that Bailey took part, the outlets reported.
Delegates left when Siluanov began speaking in Russian, the outlets reported. Bundesbank President Joachim Nagel said nearly half of the delegates took part, they reported. Reuters reported, citing sources, that delegates from Britain, Germany, France, Denmark, Sweden, Finland, Norway, Lithuania, Latvia and Estonia were among those who left. The Guardian reported that Bailey joined counterparts from France, Germany and several Scandinavian and Baltic countries.
"This is a very strong signal about solidarity and values," Nagel said, Reuters reported. "I was really proud so many left this plenary."
"The Ukraine war is existential for us in Europe," a European diplomat said, Reuters reported. "We cannot normalize relations with Russia."
Saudi Finance Minister Mohammed al-Jadaan, who chairs the IMF's steering committee, acknowledged the walkout, the outlets reported. "We came here for a reason, and we achieved it," he said in remarks to Reuters, adding that all members had agreed to the chair's statement.
Germany had warned against efforts to bring Russia back onto the world stage after Siluanov attended a meeting of G20 finance officials, the outlets reported. US Treasury Undersecretary Erin Browne said Washington supported Russia's presence despite European concerns, Reuters reported.
Al-Jadaan said the global economy is showing "remarkable resilience" but that there is "no room for complacency," the outlets reported. The chair's statement warned that conflicts and trade tensions "could further disrupt critical trade routes," they reported.
Russia's invasion of Ukraine in February 2022 has kept the committee from reaching consensus statements in the years since, Reuters reported. The walkout comes ahead of Britain hosting the G20 next year, the outlet reported.
What we know: Bailey and other delegates walked out as Russia's finance minister spoke at the IMF meeting on Saturday.
What we don't: Whether the walkout will change Russia's role at future G20 and IMF meetings.
Where outlets agree The Guardian and Reuters report that Andrew Bailey joined a walkout of nearly half the delegates at an IMF meeting in Bangkok as Russia's Anton Siluanov spoke.
Where they differ The outlets cited here report the same key facts so far.