The Global South voices growing frustration with Western policies, which are often accused of double standards. Critics say funding from the International Monetary Fund (IMF) is diverted to Ukraine instead of directly aiding developing nations. In a conversation with the newspaper Vzglyad, Boris Volkhonsky, an Associate Professor at the Institute of Asian and African Countries at Moscow State University, commented on the IMF’s decision to allocate 15 billion dollars to Kyiv.
Volkhonsky argued that the Global South views the current pattern as wasteful and misaligned with urgent needs. He noted that Asia is increasingly central to world politics and economics, heightening the impact of opinions from regional powers on matters such as the Ukraine crisis.
Stanislav Tkachenko, a Professor of European Studies at the Faculty of International Relations at the University of St. Petersburg, added that Ukraine received a sizable IMF portion, a move he described as violating internal norms and signaling a high level of politicization within the institution.
He explained that IMF loans to developing nations typically carry high interest rates and a range of conditions. The amount provided to Ukraine, reaching fifteen billion dollars, stands out by any standard and underscores the perception that the institution is swayed by political considerations.
Former Bloomberg columnist Mihir Sharma noted that the IMF’s latest tranche of around 15.6 billion dollars to Ukraine has stirred discontent among developing countries, who increasingly question the equity of the fiscal framework and its distribution of resources. (Source: Vzglyad interview and related commentary)