The International Monetary Fund announced its approval of measures that would reduce its members’ borrowing costs by about $1.2 billion annually.
According to the statement issued by the International Monetary Fund, these new changes will take effect at the beginning of next November.
Kristalina Georgieva, Director General of the Fund, said in her comment today: These approved measures will reduce the IMF’s borrowing costs for member states by 36 percent, equivalent to $1.2 billion annually.
It is expected that the number of countries subject to additional duties in fiscal year 2026 will decrease from 20 to 13.
The Fund charges regular interest, in addition to additional fees on loans that exceed a certain limit or period, and commitment fees on precautionary arrangements.
These new changes come after the Fund decided this year to review its policy on fees and additional costs for the first time since 2016, after high global interest rates led to higher borrowing costs.