World Bank Group Executive Director for Russia and Syria Roman MarshavinInternationalIndiaAfricaWASHINGTON (Sputnik) – Russia plays a pragmatic role at the World Bank and often speaks at the request and on behalf of developing nations, World Bank Executive Director for Russia and Syria Roman Marshavin told Sputnik. “Our undoubted advantage is that, not being a World Bank borrower, Russia has the ability to openly express its position and often speak at the request and on behalf of a number of developing countries, that, for various reasons, do not dare to voice their opinion and go into any kind of confrontation with leading shareholders of the Bank,” Marshavin said. “By acting in this way, over the past few years Russia has gained a reputation in the Bank as a pragmatist and common-sense state in international economic relations, leading an open dialogue on the most important issues of international development.” Marshavin went on to say that thanks to the pragmatic position of Russia on international development issues, the Russian directorate manages to maintain its authority and build trusting relationships, primarily with the Group of 11. “Last year alone, Russia joined dozens of joint G-11 statements on various aspects of the Bank’s work, including improving access to energy and water resources, climate change, food security, a number of Bank reforms, and many other issues,” he said. Marshavin pointed out that at the same time, they try to avoid politicized rhetoric from other directorates. “In this we receive the support of our colleagues: everyone agrees that there are other international institutions for such discussions, including the United Nations.” The official went on to point out that Moscow expects the World Bank to fully revive its cooperation with Russia after the agency suspended the majority of its joint initiatives.”We proceed from the fact that over time, the World Bank will return to full cooperation with our country,” he said. “As it is known, Russia is not and does not seek to become a borrower from the World Bank.”The official said that Russia’s task is to support the countries of Central Asia, Africa and other regions together with the World Bank to master advanced methods of combating poverty, including the use of Russian technologies.AnalysisPaul Craig Roberts: Washington Shot Itself in Head by Facilitating De-Dollarization13 April, 18:35 GMT”Work in this format will, we hope, develop as the World Bank management realizes the futility of Western attempts to isolate Russia,” Marshavin said, adding that the opinions expressed are his own and do not reflect the World Bank’s position.Weighing in on the possibility of the do-dollarization, Marshavin commented that the Russian ruble has every chance to offer an alternative to the US dollar provided that the country pursues the “right” financial policy.
"In my opinion – with the right financial policy in place – the ruble could become an alternative to the US dollar, we have every chance for this," he noted. "The main prerequisites are one of the lowest levels of public debt in the world, a positive trade balance, the stability of the political system."
Russia’s partners also demonstrate a growing interest in ruble-denominated transactions and loans to avoid US sanctions, the official said.Various experts and insiders have recently begun to speak on the growing de-dollarization push in the wake of the US’ struggling economy and potentially looming recession. Thembinkosi Bonakele, Witwatersrand University, ex-commissioner at the Competition Commission of South Africa, recently told Sputnik that unilateral sanctions could continue to encourage countries toward using alternative currencies.