Alexey Mozhin had worked at the Washington-based institution for more than 30 years
The International Monetary Fund’s executive director for Russia has quit the organization after nearly 30 years, citing disrespect and insults directed towards his country and its leadership.
Aleksey Mozhin had been Russia’s permanent representative to the International Monetary Fund (IMF) since the 1990s, and was made dean of its executive board as its longest-serving member in 2014.
In an interview with RIA Novosti on Friday, he said the Washington-based institution had become “extremely” politicized in recent years as a result of pressure from its top shareholders, including the US.
He had to deal with increasing disrespect and insults towards his country and President Vladimir Putin at board meetings, the Russian economist said.
“They are rude to me… they insult my country, the leader of my country. I have to snap back, but it’s all deeply disgusting,” Mozhin said, explaining his decision to resign from the IMF.
After the escalation of the Ukraine conflict in 2022, the IMF suspended Mozhin’s position as dean of the board, citing Russia’s role in the crisis and its “potential impact on the ability of the executive director for Russia to carry out this task effectively.” The role of dean was largely symbolic and carried no official responsibilities or authority.
Commenting on his resignation, Mozhin told RIA Novosti that the fund was now “in the worst shape in more than 30 years” as a result of its politicization.
Currently, there are 24 members of the IMF executive board, elected by member countries or groups of countries, though the distribution of votes is at least in part determined by a nation’s share of the funding it provides.
Mozhin’s position at the IMF will be assumed by Ksenia Yudaeva, the former first deputy governor at Russia’s central bank and a current adviser to Governor Elvira Nabiullina. Her candidacy was proposed by Russia’s Finance Ministry in September and was supported by the government. Mozhin will replace Yudaeva as an adviser to the head of the Bank of Russia.
Moscow hasn’t applied for any IMF loan since 2000, and has repaid all its outstanding obligations to the fund as of January 2005.
