Who walked out, and when

Bank of England governor Andrew Bailey took part in an IMF summit walkout in Bangkok, joining finance leaders who left the session in protest against Russian involvement. The Bank of England confirmed that Bailey took part.

Bailey left alongside counterparts from France, Germany and a number of Scandinavian and Baltic countries. The departure came as Russian finance minister Anton Siluanov addressed the group in Russian. German Bundesbank president Joachim Nagel said nearly half of all delegates joined the joint departure when Siluanov started speaking.

• •Bailey left with counterparts from France, Germany and Scandinavian and Baltic countries
• •The trigger was Siluanov addressing the group in Russian
• •Nagel put the share of delegates leaving at nearly half

Why Europe walked

A European diplomat told Reuters that the protest reflected how deeply the war is felt on the continent, saying relations with Moscow could not go back to normal.

The same diplomat added: "We cannot normalise relations with Russia".

IMF response and Russia's seat

The Saudi finance minister Mohammed al-Jadaan, who chairs the IMF's steering committee, noted the walkout. He said the meeting had achieved its purpose, pointing to a chair statement that all members agreed to.

Before the session, Germany had cautioned against moves that would return Russia to the international stage. Siluanov had been present at this year's gathering of G20 finance ministers and central bankers. On the question of his seat, US treasury undersecretary Erin Browne told Reuters that Washington backed Russia's presence, even as European countries raised concerns.

What the meeting concluded on the global economy

Despite the protest, the meeting heard that the global economy was showing remarkable resilience despite Russia's war against Ukraine, and issues around the Strait of Hormuz. Al-Jadaan said there was no room for complacency, citing public debt levels and high bond market rates. His post-meeting statement said the global economy had weathered recent shocks better than expected, but that buffers had been eroded. In his warning, further disruption to critical trade routes and sharper commodity price pressures could follow from escalating conflicts and trade tensions.

Al-Jadaan pointed to the agreed chair statement as proof the gathering had still delivered: "We came here for a reason, and we achieved it. Look at this chair statement, it clearly says that all members agreed".