Võrklaev at the IMF and World Bank Annual Meeting: We must take the next steps regarding Russia

Võrklaev underlined in his speech that supporting Ukraine was a priority for Estonia, and acknowledged the efforts of the World Bank and IMF.

“We all must increase the joint pressure on Russia to end its war of aggression. We welcome the G7+ loan mechanism to support Ukraine and the use of extraordinary revenues from Russian assets for this purpose, which is an important step and must be implemented as soon as possible. Russia has caused unimaginable damage to Ukraine and must bear the responsibility for this,” Võrklaev said.

He added that in the nearest future Estonia would focus on supporting the energy sector of Ukraine, in addition to strong military assistance. “We will contribute to the Ukraine Energy Support Fund and supply Ukraine with used equipment from Estonia’s power plants in order to help vulnerable groups survive the cold winter,” he said.

Võrklaev concluded his speech with an observation, “It is ironic that we are discussing these issues in the premises of an institution where the aggressor is a shareholder. We need to take the next steps.”

“This means that Russia should not be at the table of the IMF and the World Bank,” Võrklaev explained, and recalled that in addition to the strong messages of support for Ukraine from other colleagues, the Minister of Finance of Finland had sharply pointed out in his speech that the IMF and the World Bank were working for global financial stability and economic growth, but almost every meeting and analysis showed the negative impact of Russia’s full-scale war on both economy and people’s livelihoods. “This is working directly against our common efforts,” he remarked, commenting on the developments at the roundtable.

The Ministerial Roundtable Discussion on Ukraine, held as a part of the World Bank’s Annual Meetings, brings together high-level officials and ministers of finance from around the world to discuss the priorities of support to Ukraine and coordinate international aid measures. The discussions focus on rebuilding Ukraine’s economy and financial system, mitigating the crises caused by Russia’s aggression, and identifying how the international community could contribute most effectively to Ukraine’s reconstruction.

The Annual Meetings of the International Monetary Fund and the World Bank, as well as the events held as a part of the meetings in Washington, are also attended by Governor of Eesti Pank (Bank of Estonia) Madis Müller and experts from the central bank and the Ministry of Finance. Bilateral meetings will be held with senior officials of the IMF and the World Bank, the Government and the central bank of Ukraine, the U.S. Department of the Treasury, and the Federal Reserve, as well as with other representatives of the public and private sectors.

For more information, please contact: Mart Võrklaev, +372 5132166
mart.vorklaev@riigikogu.ee

Riigikogu Press Service
Gunnar Paal
+372 631 6351, +372 5190 2837
gunnar.paal@riigikogu.ee
Questions: press@riigikogu.ee

Link uudisele: Võrklaev at the IMF and World Bank Annual Meeting: We must take the next steps regarding Russia

Source: Parliament of Estonia