We believe that IMF Surcharges are Unfair, Counterproductive and a Threat to an Equitable Global Economic Recovery. They Should be Eliminated Immediately.

We are deeply concerned that the IMF continues to levy punitive fees on countries facing debt distress while struggling against the effects of the pandemic. The Fund has ignored repeated appeals from development experts, civil society groups, governments and national legislators to urgently review its practice of imposing surcharges on loans and seriously consider the immediate suspension or outright elimination of this policy.

We call on the IMF’s Executive Board to carry out an immediate review of surcharge policy, ensure transparency around past and future surcharge payments, and align the institution with its mandate by supporting the complete elimination of surcharges.

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