NEW YORK — A group of 22 financially distressed countries, including Pakistan and Ukraine, has become the largest source of net revenue to the International Monetary Fund (IMF) in recent years, with payments exceeding the Fund's operating costs.
NEW YORK — A group of 22 financially distressed countries, including Pakistan and Ukraine, has become the largest source of net revenue to the International Monetary Fund in recent years, with payments exceeding the Fund's operating costs. The institution entrusted with providing the global public good of a well-functioning international financial system is, in effect, asking countries that are hardly able to pay their own bills to pick up the tab for the rest of the world.
In an adverse international environment, increasing the burden on countries suffering from debt crises is counterproductive to the goal of restoring stable growth trajectories.Defenders of the surcharges also argue that they are needed to build up the IMF's financial buffers.
IMF Must End Its Destructive Surcharges
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Globe unleashes new possibilities with the all-new GPlan PlusGlobe unleashes new possibilities with the all-new GPlan Plus
Read more »
New Zealand's Maori anoint new queen, bury late kingNGARUAWAHIA, New Zealand — New Zealand's Maori chiefs anointed a 27-year-old queen as their new monarch Thursday, a surprise choice hailed as a symbol of change for the country's Indigenous community.
Read more »
New Zealand's Maori anoint new queen(UPDATE) NGARUAWAHIA, New Zealand — New Zealand's Maori chiefs anointed a 27-year-old queen as their new monarch on Thursday, a surprise choice hailed as a symbol of change for the country's Indigenous community.
Read more »
New blood: Djokovic shut out as young guns Alcaraz, Sinner usher in new Grand Slam eraThe legendary tennis 'Big Three' era is set for a huge transition as the likes of Carlos Alcaraz and Jannik Sinner take over the Grand Slam wars
Read more »
All-new Nissan Patrol enters a new era for capability and luxuryTHE outgoing Nissan Patrol has been on the market for over a decade, which is a long time by any standard in the automotive industry. And finally, the Japanese automaker has unveiled the 2025 Nissan Patrol, the seventh generation of the iconic full-size SUV, long regarded as a strong competitor to the Toyota Land Cruiser.
Read more »
Group opposes transfer of P10B PhilHealth fundA LABOR coalition urged President Ferdinand Marcos Jr. and Finance Secretary Ralph Recto on Tuesday to stop the transfer of P10 billion Philippine Health Insurance Corp. (PhilHealth) funds to the National Treasury.
Read more »