WASHINGTON (AP) — The International Monetary Fund is facing pressure to reevaluate how it imposes fees on loans it disperses to needy countries like war-torn Ukraine — which is one of the fund’s biggest borrowers.
The move comes as more countries will need to turn to the IMF, as food prices and inflation internationally continues to rise.
Surcharges are added fees on loans imposed on countries that are heavily indebted to the IMF.
Treasury Deputy Secretary Wally Adeyemo said in Aspen last month that finance ministers of several countries realize they have to pay a price for Russia’s war in Ukraine, especially with food prices going up.
“They’re going to have to go to the IMF, they’re going to need to find assistance,” Adeyemo said.