US lawmakers renew push for IMF surcharge changes
The number of heavily indebted countries paying the International Monetary fees has tripled in recent years, renewing calls to reform the surcharge system and help ease the financial burden.
By Adva Saldinger // 07 October 2024
A group of U.S. lawmakers is pushing the International Monetary Fund to change its âharmful policyâ of charging heavily indebted countries surcharges on their loans, urging action on a long-discussed issue.
The IMF has for years levied an extra surcharge or fee on countries that need to borrow large sums of money. But it recently started a review of such policies with discussions expected at the annual meeting later this month.
The issue may be attracting more attention because nearly three times as many countries pay surcharges now compared to 2019. The surcharges will total about $13 billion between 2024 and 2033, with Ukraine alone expected to pay nearly $3 billion, according to the Center for Economic and Policy Research.Â
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Who's who at the UN Future Summit and UNGA 79
We've compiled a list of who among the thousands of attendees is worth keeping a close eye on.
By Colum Lynch // 19 September 2024
Among the attendees are U.S. President Joe Biden, delivering his farewell address to the 193-member General Assembly, Indian Prime Minister Narendra Modi, who will speak at the Summit of the Future, and French President Emmanuel Macron, who skipped last yearâs U.N. summit. No-shows include Chinese President Xi Jinping and Russian President Vladimir Putin, who faces an arrest warrant from the International Criminal Court. U.S. Vice President Kamala Harris is not scheduled to address either high-level meeting, but she and former President Donald Trump are likely to be a hot topic for conversion. Here at Devex, we will tell you who among the thousands of attendees is worth keeping a close eye on.
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Ghana on US aid cuts: âAs bridges are burning, new bridges are formedâ
Forced into $156 million of spending cuts, the countryâs president told the Munich Security Conference that âin adversity there is opportunityâ â and warned the U.S. it will also lose out.
By Rob Merrick // 14 February 2025
Ghanaian President John Dramani Mahama has warned the United States it will lose influence abroad to other major powers because of its massive aid cuts, telling the Munich Security Conference: âAs bridges are burning, new bridges are being formed.â
Mahama told a conference side meeting that his country has been forced to make $156 million in spending cuts to economic growth and education plans, and â âthe most criticalâ â health care programs because of U.S. President Donald Trumpâs aid freeze.
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China has signalled it could oppose a planned increase in national membership fees to the World Health Organization (WHO) aimed at increasin
UN Member States met on Wednesday for the first of three key meetings to advance a global agreement that pledges concrete actions to achieve
