“The IMF is [a member] of the FSB but the FSB, established after the 2009 G20 London Summit is seen to be closer to the G20 and the U.S. at a time of Russia’s war against Ukraine,” said a source 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.”
