IMF surcharges are a system of fees on loans from this institution which places an unfair burden on vulnerable countries that are in need of financial support. This guide explores how IMF surcharges work and provides an overview of the costs they impose on IMF borrowing at the global and country level. The large costs associated with surcharges are unjustified in the current global health crisis.

Without a human rights-based alternative to austerity, many countries will find themselves trapped in a vicious cycle of self-defeating fiscal adjustments, instability and unsustainable debts.

Lauded by its proponents as a “ground-breaking” and “innovative approach,” the proposal raises concerns upon closer review and is likely to turn into a costly missed opportunity for everyone involved.