“The IMF is [a member] of the FSB but the FSB, established after the 2009 G-20 London Summit is seen to be closer to the G=20 and the U.S. at a time of Russia’s war against Ukraine,” said a person often consulted on policy matters by India’s Finance Ministry. “India may not want to alienate its old ally, Russia. Instead, a subtle shift towards the IMF may be seen as more neutral.”
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