IMF board had reservations about freezing surcharges

The executive board of the International Monetary Fund It had reservations in September about offering relief for the commissions that countries like Argentina pay for loans, although the bank did not make a final decision, said the managing director of the entity, Kristalina Georgieva.

During an informal board meeting last month, “there were reservations around freezing flight attendants, mainly driven by genuine concern about the financial strength of the IMF at this time of crisis, “he said Wednesday Georgieva during a virtual press conference. But that was not conclusive in any direction. Too there was support for the fund to do what we do periodically, which is a review of the flight attendants ”.

The IMF improved its growth forecasts for the Argentine economy

Bloomberg News reported this week that the board had rejected a proposal to discuss temporary relief from so-called surcharges, citing people with direct knowledge of the matter. Surcharges are fees charged to countries that make extensive use of the bank’s lines of credit.

Argentina, the IMF’s largest debtor, proposed that countries be exempted from paying surcharges amid the financial and economic burden of the pandemic.

RB CP

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