Reported about 1 year ago
The International Monetary Fund (IMF) is planning to review and discuss the fees it charges its biggest borrowers, considering concerns from some nations that the costs have become unreasonable due to higher interest rates. The IMF board will meet to explore options for reducing surcharges on nations that exceed their allotted share or take longer to repay loans, with a potential policy change requiring 70% approval. This move comes as various countries face billions of dollars in extra costs due to the fees, which have increased significantly amid higher global interest rates. The United States, a major IMF shareholder, has shown readiness to reassess these fees as well.
Source: YAHOO