WASHINGTON (Pakistan Point News / Sputnik - 14th May, 2021) The managing director of the International Monetary Fund (IMF) Kristalina Georgieva and the President of Argentina Alberto Fernandez have discussed post-COVID-19 pandemic economic recovery and surcharges policy reforms, the director said on Friday.
"I had a very positive meeting with President Alberto Fernandez of Argentina today," Georgieva said in a statement. "We discussed the importance of global cooperation in helping to ensure a more equitable and durable economic recovery, especially to support vulnerable countries. I also took note of President Fernandez's request for a reform of the IMF's surcharges policy, and I will consult with the membership on this issue."
The statement added that Georgieva and Fernandez were committed to working together on an IMF-sponsored program to overcome challenges posed by the pandemic to ensure a more equitable and durable economic recovery.
According to IMF, the surcharge a tool to discourage large and prolonged use of the fund resources; their size is dependent on the amount and time credit is being provided for. The surcharges are paid by a borrower on top of interest and other fees and in some cases can significantly increase the sum of debt.
