Former deputy head of the Central Bank Ksenia Yudaeva will take the post of executive director for Russia at the IMF

Prime Minister Mikhail Mishustin ordered the candidacy of former deputy head of the Central Bank Ksenia Yudaeva for the post of executive director from Russia at the International Monetary Fund. The information was previously confirmed by Yudaeva’s predecessor in this post, Alexey Mozhin. Yudaeva will take up her duties on November 1.

Mozhin has continuously held the position of executive director for Russia at the Navy since 1996. In 2014, as the oldest member of the fund's board of directors, he became dean of the IMF's executive board, but his powers were suspended after Russia's invasion of Ukraine. In turn, Yudaeva was one of the first members of Elvira Nabiullina’s team after joining the Central Bank. She served as first deputy chairman of the Central Bank from September 2013 to August 2023.

In early September, Bloomberg reported that the IMF plans to resume annual consultations with the Russian authorities on the economic review, which were interrupted in 2022 due to the “unstable” situation, but a week after the publication it became known that the return of the mission was postponed.

The fund’s refusal to return to work will not affect Yudaeva’s appointment, since her responsibilities include not only representing Russia’s interests in the organization, but also participating in decision-making regarding the IMF’s global economic policy. However, in April 2022, Yudaeva, along with other deputy heads of the Central Bank, came under sanctions from the United States, where the IMF headquarters is based. How the issue of sanctions will be resolved when Yudaeva takes office is not yet clear.