The International Monetary Fund will be “guided by our membership” in deciding whether to recognize the military that has seized power in Myanmar as the country’s legitimate government, IMF spokesman Gerry Rice said, according to a Reuters report.

The Fund is watching the situation in Myanmar closely and is “very concerned about the impact of recent events” on Myanmar’s people, Rice told a regular IMF news briefing.

It will be up to the IMF’s 190 member states to decide whether to recognize the military regime that seized power last Saturday, Rice said.