{"title":"Democracy, Authoritarianism and Global Economic Governance","authors":"Johanna Gautier Morin","doi":"10.1017/s0960777323000656","DOIUrl":null,"url":null,"abstract":"Four weeks after Russia's invasion of Ukraine, US Senator John Kennedy accused the Biden administration of indirectly providing over $17 billion to Moscow as Putin was gearing up for war. In August 2021, the International Monetary Fund had indeed approved a historic $650 billion allocation of Special Drawing Rights to help member countries struggling with the Covid crisis. Russia benefited from these money transfers, as did Iran, China, and Myanmar, notwithstanding the authoritarian consolidation of these regimes. Kennedy's op-ed sparked a debate about the lack of transparency in the use of crisis resources and led to the adoption in the United States of the ‘Russia and Belarus SDR Exchange Prohibition Act’, which bans currency transactions with these countries through the IMF, following the imposition of 2,500 sanctions by the US Treasury since February 2022. The op-ed also reignited a decades-old debate over whether international organisations such as the IMF, World Bank and World Trade Organisation (WTO) should be held accountable for supporting authoritarian and corrupt governments or interfering in the politics of sovereign nations.","PeriodicalId":46066,"journal":{"name":"Contemporary European History","volume":null,"pages":null},"PeriodicalIF":0.8000,"publicationDate":"2024-01-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Contemporary European History","FirstCategoryId":"98","ListUrlMain":"https://doi.org/10.1017/s0960777323000656","RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"HISTORY","Score":null,"Total":0}
引用次数: 0
Abstract
Four weeks after Russia's invasion of Ukraine, US Senator John Kennedy accused the Biden administration of indirectly providing over $17 billion to Moscow as Putin was gearing up for war. In August 2021, the International Monetary Fund had indeed approved a historic $650 billion allocation of Special Drawing Rights to help member countries struggling with the Covid crisis. Russia benefited from these money transfers, as did Iran, China, and Myanmar, notwithstanding the authoritarian consolidation of these regimes. Kennedy's op-ed sparked a debate about the lack of transparency in the use of crisis resources and led to the adoption in the United States of the ‘Russia and Belarus SDR Exchange Prohibition Act’, which bans currency transactions with these countries through the IMF, following the imposition of 2,500 sanctions by the US Treasury since February 2022. The op-ed also reignited a decades-old debate over whether international organisations such as the IMF, World Bank and World Trade Organisation (WTO) should be held accountable for supporting authoritarian and corrupt governments or interfering in the politics of sovereign nations.
期刊介绍:
Contemporary European History covers the history of Eastern and Western Europe, including the United Kingdom, from 1918 to the present. By combining a wide geographical compass with a relatively short time span, the journal achieves both range and depth in its coverage. It is open to all forms of historical inquiry - including cultural, economic, international, political and social approaches - and welcomes comparative analysis. One issue per year explores a broad theme under the guidance of a guest editor. The journal regularly features contributions from scholars outside the Anglophone community and acts as a channel of communication between European historians throughout the continent and beyond it.