Top Tweets for #IMFSurcharges
For those following the #IMFsurcharges saga, you can now see accurate projections of the egregious fees levied on highly indebted countries spelled out clearly in staff reports. A win for transparency, and a reminder that they need to go! (1/2)
💬 Are IMF surcharges deepening Africa's debt crisis?
🌍 Join our webinar TODAY to unpack The Role of IMF Surcharges in Exacerbating Debt Conundrum in Africa.
🔗Register Now: https://t.co/B4GFa5RbSm
🗓️ Date: Tuesday, 19th Nov 2024
⏰ Time: 2:00PM - 3:30PM EAT
#IMFSurcharges #AfricaDebtCrisis
#IMFSurcharges are hitting borrowers hard as interest rates soar. Countries borrowing above their quota face fees pushing total rates over 8%—DOUBLE pre-pandemic levels.
Top payers owe $6B+ over the next 5 years. @IMFNews can't justify this policy.
https://t.co/j5FKz0BYuL
Our study shows that the number of countries paying #IMFSurcharges has nearly tripled in 5 years, from 8 in 2019 to 23 in 2024.
This alarming trend highlights the growing burden on indebted nations. @VP, the US can #StopIMFSurcharges. https://t.co/ecgdm4kM6I
#IMFSurcharges help trap indebted nations in vicious cycles of debt.
Experts argue these outdated policies need urgent reform, as institutions created decades ago can no longer handle today's complex global #debtcrisis.
A new framework is desperately needed.
Our takeaway from @IMFNews & @WorldBank #SpringMeetings2024 (2)
CSOs demanded to abolish #IMFsurcharges & penalty interest rates. Developing countries in #G24 communiqué demanded suspension, too.
IMF board just decided to start review of surcharge policy, with uncertain outcome
NEW: @ecuarauz + @Ivana_V_L say upcoming #IMF meetings are opportunities to direct the Fund to remove surcharges.
#IMFSurcharges violate the spirit of IMF agreements and are an unnecessary, punitive policy against vulnerable countries.
https://t.co/GCVPkyKXme
We know #IMFSurcharges are counterproductive and punitive.
They worsen economic downturns and crises for affected countries by impacting governments' fiscal policies and their ability to meet basic needs, particularly for women. 5/7
https://t.co/kM711nq7lJ
Dozens of former heads of state and former govt ministers from the UK, Brazil, Mexico, Timor-Leste, Slovenia, Costa Rica, South Korea & others urge more action in response to global food, energy, debt, & COVID crises, including by suspending #IMFsurcharges https://t.co/4KBHEzZoJH
The US response to inflation should also consider the impact on vulnerable, connected economies in the global south. Effective alternatives to hiking the interest rate include a new #SDR issuance and ending punitive #IMFsurcharges. TY @jamiemartin2! https://t.co/aAFZLm2B92
#COVID19 recovery, #IMFsurcharges, and the worsening #ClimateCrisis, and now skyrocketing increases to the price of staples like wheat & corn since the start of the #RussiaUkraineWar all threaten to devastate the economies of many developing countries. https://t.co/nBM2arTkO1
#IMFSurcharges are counterproductive and unfair. Rather than punishing countries in crisis, the IMF should use fairer & less harmful sources of financing to buffer against potential losses. Join the call for @IMFNews to #StopIMFSurcharges NOW! 👇🏾 https://t.co/cqIpK3ZB67
#IMFSurcharges are counterproductive and unfair. Rather than punishing countries in crisis, the IMF should use fairer & less harmful sources of financing to buffer against potential losses.
Join the call for @IMFNews to #StopIMFSurcharges NOW! 👉https://t.co/dmkmihmyYD
#IMFSurcharges are counterproductive and unfair. Rather than punishing countries in crisis, the IMF should use fairer & less harmful sources of financing to buffer against potential losses.
Join the call for @IMFNews to #StopIMFSurcharges NOW! 👇 https://t.co/btyRiYGfNy
Join experts from @eurodad & partner #CSOs at the #WBGMeetings & #IMFMeetings 2022, where they'll be discussing sustainable #infrastructure, #doingbiz, #PublicServices, #IMFSurcharges, #SDRs, #Debt mechanisms & more!
A full list of events ➡️https://t.co/OsWIC06f1I
#SMCSO22
"A September 2021 study...of the...CEPR pointed out as follows: ...#IMF surcharges are inappropriate and unjustifiable, particularly during a pandemic combined with a very uneven recovery from a pandemic-driven world recession'" #IMFsurcharges https://t.co/PEZvUzVMoJ
"'Demanding these surcharges during an ongoing recession caused by a pandemic goes even more against' the #IMF’s founding principles," @ceprdc says. #IMFsurcharges https://t.co/nofYpmGpWf
"'At a time when countries around the world should be focused on this public health crisis, these surcharges divert billions of dollars into the IMF’s pockets here in Washington and prevent an equitable recovery,' Garcia said in a statement to Reuters." #IMFsurcharges
Lawmakers urge U.S. Treasury's @SecYellen to back review of #IMF surcharges https://t.co/IpGxQCFPVW
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