The IMF rejected the request of the Argentine government to reduce the surcharge it pays to the multilateral organization

The board of directors of the International Monetary Fund (IMF) ruled out the Alberto Fernández government’s request to discuss a relief in the surcharges that the country pays to the multilateral credit organization.

As detailed by the specialized agency BloombergIn an informal meeting last month, the IMF dismissed Argentina’s request to consider a temporary reduction in so-called surcharges. These are the extra commissions charged by the Fund to countries that make use of credits above the quota that corresponds to them as members of the organization.

The Argentine government had proposed that countries be exempted from paying surcharges amid the economic turmoil caused by the pandemic. Despite the request, the member countries of the organization rejected the idea almost without discussing it and, in this way, the chance that it will be on the table again is removed.

In the midst of this shock, Martín Guzmán will search progress in renegotiating debt with the International Monetary Fund (IMF). The official intention is to try shorten the gap for a “sustainable” reprogramming of the US $ 45 billion, whose strongest maturities will be in 2022 and 2023.

News that is in progress.

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