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Lawmakers urge U.S. Treasury’s Yellen to back review of IMF surcharges

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Reuters

By Andrea Shalal WASHINGTON (Reuters) – Sixteen Democratic lawmakers are urging U.S. Treasury Secretary Janet Yellen to back a review aimed at ending the International Monetary Fund’s policy of charging countries significant surcharges on larger loans that are not repaid quickly. In a Jan. 10 letter to Yellen led by Representatives Jesus Garcia and Alexandria Ocasio-Cortez, the lawmakers called the policy “unfair and counterproductive,” and said it robbed countries of resources needed to combat the COVID-19 pandemic. “At a time when countries around the world should be focused on this public h…

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