National Defense Authorization Act to suspend IMF Surcharges

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Surcharges are added fees on loans imposed on countries that are heavily indebted to the IMF.  Recently many countries are approaching IMF for economic rescue package because of increase in food price and inflation around the World.

Recently U. S. House passed National Defense Authorization Act which will suspend IMF Surcharges. The Senate is expected to vote on its defense bill in September.

USA is a largest shareholder in IMF and a member of executive board. This gives lever to USA to unilaterally push changes to IMF’s policy decisions and can veto any decision of Board.  

https://economictimes.indiatimes.com/news/international/world-news/imf-fees-on-loans-to-war-torn-nations-closer-to-elimination/articleshow/93683874.cms?from=mdr

https://www.newindianexpress.com/world/2022/aug/21/imf-fees-on-war-torn-countries-closer-to-elimination-2489723.html


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