FINANCIAL TIMES: In European Union, they offered to limit Russia’s access to IMF tools

Several EU countries proposed to limit Russia access to the IMF tools in the event of a military invasion of Ukraine. This is reported by FINANCIAL TIMES edition.

Forbes explains that it is about freezing the access of the Russian Federation to special borrowing rights (SDR), which is the computational unit of the IMF. States can use SDR to service debt obligations to the Fund, or convert them to any currency and send to reduce external or servicing internal public debt.