<\/p>\n
Dear members of the IMF Executive Board,<\/p>\n
At last year\u2019s Annual Meetings, Chair of the International Monetary and Financial Committee Ms. Nadia Calvi\u00f1o stated<\/a>that the Fund \u201cwill consider a review of surcharge policies.\u201d As the 2024 Spring Meetings approach, it is our understanding that the Executive Board plans to make good on this commitment, and will soon hold discussions to determine the future of this controversial policy.<\/p>\n We are encouraged by these signs, and appreciate the Fund\u2019s willingness to engage with this longstanding \u00a0 demand from a large majority<\/a> of IMF\u2019s shareholders, academics and civil society. Now, we, the undersigned organizations, write to urge you to use this opportunity to put an end to this harmful and counterproductive surcharge policy once and for all.<\/p>\n The case against surcharges has been made many<\/a> times<\/a> before<\/a>. This policy \u2014 which levies additional fees of up to 300 basis points on countries with high or longstanding levels of outstanding credit \u2014 is plainly procyclical. By punishing heavily indebted countries with additional debt, surcharges increase borrowing costs; exacerbate (rather than alleviate) onerous debt burdens; and divert valuable resources from investments in development, climate action, health, or education. The surcharges policy therefore contributes to the trends of increased\u00a0 social and political unrest recognised<\/a>by the Fund as a risk to the global economy. It also disregards warnings about the urgent need for a more legitimate and equitable multilateral system in the UN Secretary General\u2019s New Agenda for Peace<\/a>.<\/p>\n From 2019 to 2023, the number of countries paying surcharges doubled from 8 to 16. This year, that number has jumped<\/a>to 22.* This alarming trajectory is likely to continue as more and more countries resort to the Fund for financing in the face of accelerating debt and climate crises.<\/p>\n The IMF has yet to provide any evidence that surcharges disincentivize reliance on IMF credit. Indeed, the growing number of countries subject to surcharges is evidence to the contrary. The other justification for surcharges \u2014 that they are a necessary source of income for the IMF\u2019s precautionary balances \u2014 is not only directly counter to the IMF\u2019s mission, as Nobel Laureate economist Joseph Stiglitz has pointed out<\/a>, but is also inaccurate<\/a>.<\/p>\n Since civil society first began raising concerns, opposition to the Fund\u2019s surcharge policy has expanded considerably. The G77 and China,<\/a> representing nearly every nation in the Global South, G20 chair Lula da Silva<\/a>, UN human rights experts<\/a>, leading economists<\/a>, the UN Global Crisis Response Group<\/a>, UN Secretary-General Ant\u00f3nio Guterres<\/a>, dozens of former heads of state and government<\/a>, hundreds of civil society organizations<\/a>, and many more, have all called on the Fund to suspend or eliminate surcharges.<\/p>\n As the burden of surcharges and global demands to end them both continue to grow, it is clear that this path is not sustainable. It is no longer a question of whether<\/i> to end this unjust and unjustifiable policy, but when<\/i>. We urge you to act now.<\/p>\n Sincerely,<\/p>\n *The 22 countries now paying surcharges are: Angola, Argentina, Armenia, Barbados, Benin, Costa Rica, C\u00f4te d\u2019Ivoire, Ecuador, Egypt, Gabon, Georgia, Jordan, Kenya, Moldova, Mongolia, North Macedonia, Pakistan, Senegal, Seychelles, Sri Lanka, Tunisia, and Ukraine.<\/p>\n<\/div>\n<\/div>\n<\/div>\n <\/p>\n \u00abGreen Armenia\u00bb Environmental Educational NGO, Armenia<\/p>\n 11.11.11, Belgium<\/p>\n 350.org, International<\/p>\n AbibiNsroma Foundation, Ghana<\/p>\n ACCI\u00d3N ECOL\u00d3GICA, Ecuador<\/p>\n Acci\u00f3n Jur\u00eddica Popular, Ecuador<\/p>\n ACEP, Portugal<\/p>\n ActionAid Australia, Australia<\/p>\n ActionAid International, International<\/p>\n Ad\u00e9quations, France<\/p>\n Africa Development Interchange Network (ADIN), Cameroon<\/p>\n Africa Forum And Network On Debt And Development (AFRODAD), International<\/p>\n African Coalition on Green Growth(ACGG), Botswana<\/p>\n Agens, Switzerland<\/p>\n Ahmed Elseidi Law Firm, Egypt<\/p>\n Aid\/Watch, Australia<\/p>\n Ajudeca, Angola<\/p>\n Akina Mama wa Afrika, Uganda<\/p>\n Al Bawsala, Tunisia<\/p>\n Alternative Law Collective (ALC), Pakistan<\/p>\n ALTSEAN-Burma, Burma<\/p>\n Amis de l\u2019Afrique Francophone- Benin (AMAF-BENIN), Benin<\/p>\n Apostolic Ministerial International Network, Ghana<\/p>\n Asian Peoples\u2019 Movement on Debt and Development, Philippines<\/p>\n Asociaci\u00f3n Civil por la Igualdad y la Justicia (ACIJ Argentina), Argentina<\/p>\n Association de Lutte contre les Violences faites aux femmes et aux filles Extr\u00eame Nord Cameroun (ALVF EN), Cameroon<\/p>\n Association Djazairouna des familles victimes du terrorisme, Algeria<\/p>\n Association femme militante, Morocco<\/p>\n Association For Promoting Sustainable Development, India<\/p>\n Association interm\u00e9diaires pour le d\u00e9veloppement durable, Morocco<\/p>\n Association jeunes pour jeunes (AJJ), Morocco<\/p>\n Association LaSiesta pour la protection de l\u2019environnement, Morocco<\/p>\n Association Tunisienne de Droit du D\u00e9veloppement, Tunisia<\/p>\n Associazione Iroko Onlus, Italy<\/p>\n ATCP (Association Tunisienne des Contr\u00f4leurs Publics), Tunisia<\/p>\n ATED (Association Talassemtane pour environnement et d\u00e9veloppement), Morocco<\/p>\n Bangladesh Institute of Human Rights (BIHR), Bangladesh<\/p>\n Bank Climate Advocates, United States<\/p>\n Bank Information Center, United States<\/p>\n Barranquilla+20, Colombia<\/p>\n Biosophia NGO, Armenia<\/p>\n BNSK- Bangladesh Nari Sramik Kendra(Bangladesh Women Workers Association), Bangladesh<\/p>\n Both ENDS, Netherlands<\/p>\n Bretton Woods Project, United Kingdom<\/p>\n CADTM France, France<\/p>\n CADTM Pakistan, Pakistan<\/p>\n CAFOD, United Kingdom<\/p>\n Carbone Guin\u00e9e, Guinea<\/p>\n Caribbean Policy Development Centre (CPDC), Barbados<\/p>\n CCFD \u2013 Terre Solidaire, France<\/p>\n CEDECAM\/LATINDADD, Nicaragua<\/p>\n Center for Economic and Policy Research (CEPR), United States<\/p>\n Center for Economic and Social Development, Azerbaijan<\/p>\n Center for Economic and Social Rights (CESR), International<\/p>\n Center for Egyptian Women\u2019s Legal Assistance (CEWLA), Egypt<\/p>\n Centre de D\u00e9veloppement de la R\u00e9gion de Tensift, Morocco<\/p>\n Centre for Citizens Conserving Environment & Management (CECIC), Uganda<\/p>\n Centre for Economic Strategy, Ukraine<\/p>\n Centre for Financial Accountability, India<\/p>\n Centre for Human Rights and Climate Change Research, Nigeria<\/p>\n Centre for Muslim Youth In Peace And Development, Ghana<\/p>\n Centro de Derechos Econ\u00f3micos y Sociales \u2014 CDES, Ecuador<\/p>\n Centro de Estudios Legales y Sociales (CELS), Argentina<\/p>\n Changemaker Norway, Norway<\/p>\n Christian Aid, United Kingdom<\/p>\n Citizen\u2019s Network For Community Development Zambia, Zambia<\/p>\n Civil Society SDGs Campaign GCAP Zambia, Zambia<\/p>\n Climate Finance Group for Latin America and the Caribbean, International<\/p>\n Climate Watch Thailand, Thailand<\/p>\n CNCD-11.11.11, Belgium<\/p>\n Co-ordination Office of the Austrian Bishops\u2019 Conference for International Development and Mission (KOO), Austria<\/p>\n COAST Foundation, Bangladesh<\/p>\n Common Action Forum, Spain<\/p>\n Community Resource Centre, Thailand<\/p>\n Community settlement and Development Action (COSDA), Somalia<\/p>\n CONICET, Argentina<\/p>\n Coordinadora Civil de Nicaragua, Nicaragua<\/p>\n CORE, Nigeria<\/p>\n Crofter Foundation, Pakistan<\/p>\n CROSOL, Croatia<\/p>\n Debt for Climate South Africa, South Africa<\/p>\n Debt Justice Norway, Norway<\/p>\n debtWATCH Indonesia, Indonesia<\/p>\n Democratic Socialists of America, International Committee, United States<\/p>\n Development Alternatives with Women for a New Era (DAWN), Fiji<\/p>\n Dillinger Franziskanerinnen, Germany<\/p>\n Diverse Voices and Action (DIVA) for Equality, Fiji<\/p>\n Dorad Charity organisation, Italy<\/p>\n EcoClimate Vision, Congo, Democratic Republic of the<\/p>\n Ecology Africa Foundation, South Africa<\/p>\n Economistas sin Fronteras, Spain<\/p>\n EDER (Environnement, D\u00e9veloppement et \u00c9nergies renouvelables), Guinea<\/p>\n Egyptian Human Rights Forum (EHRF), Egypt<\/p>\n Egyptian Initiative for Personal Rights (EIPR), Egypt<\/p>\n Ekumenick\u00e1 akademie (Ecumenical Academy), Czech Republic<\/p>\n Entraide et Fraternit\u00e9, Belgium<\/p>\n ENVIRONICS TRUST, India<\/p>\n Equidad de G\u00e9nero: Ciudadan\u00eda, Trabajo y Familia, Mexico<\/p>\n erlassjahr.de, Deutschland<\/p>\n ESCR-Net, International<\/p>\n Espace de Solidarit\u00e9 et de Coop\u00e9ration de l\u2019Oriental, Morocco<\/p>\n Estonian Roundtable for Development Cooperation, Estonia<\/p>\n Eurodad, International<\/p>\n EuroMed Rights, International<\/p>\n Extinction Rebellion Auderghem, Belgium<\/p>\n Fight Inequality Alliance, International<\/p>\n Financial Justice Ireland, Ireland<\/p>\n Focus of Disabled Persons, Kenya<\/p>\n Focus on the Global South, Thailand<\/p>\n Fondazione Proclade Internazionale-Onlus, Italy<\/p>\n FORUM DES CONTRIBUTIONS Maroc Coalition Dignite et Droits des Femmes MENA., Morocco<\/p>\n Forum Solidaridad Per\u00fa \u2013 FSP, Peru<\/p>\n Forum Tunisien pour les Droits \u00c9conomiques et Sociaux, Tunisia<\/p>\n FOSDEH, Honduras<\/p>\n Foundation for the Conservation of the Earth, FOCONE, Nigeria<\/p>\n Freedom from Debt Coalition, Philippines<\/p>\n Friends of the Disabled Association, Lebanon<\/p>\n Friends of the Earth US, United States<\/p>\n Friends with Environment in Development, Uganda<\/p>\n Fundaci\u00f3n Ambiente y Recursos Naturales (FARN), Argentina<\/p>\n Fundaci\u00f3n Moneda y Sociedad, Ecuador<\/p>\n Fundacion SES, Argentina<\/p>\n FUNSALPRODESE, El Salvador<\/p>\n Gatef organization, Egypt<\/p>\n GDMR- Grupo Para o Desenvolvimento da Mulher e Rapariga, Mozambique<\/p>\n Gender Action, United States<\/p>\n Gender-Based Violence As A Public Health Issue, Nigeria<\/p>\n G\u00e9n\u00e9ration contre la marginalisation, Tunisia<\/p>\n Gestos, Brazil<\/p>\n Global Call to Action Against Poverty (GCAP), Belgium<\/p>\n Global Justice Now, United Kingdom<\/p>\n Global Learning for Sustainability (GLS), Uganda<\/p>\n Global Policy Forum, International<\/p>\n Global Policy Forum Europe, Germany<\/p>\n Global Social Justice, Switzerland<\/p>\n Good Health Community Programmes, Kenya<\/p>\n GOSCOP, Angola<\/p>\n Greater Purpose Development Organization Sierra Leone, Sierra Leone<\/p>\n Greater Purpose for Development, Sierra Leone<\/p>\n Green Advocates International (Liberia), Liberia<\/p>\n Green Tax Youth Africa, Ghana<\/p>\n Groupe de R\u00e9flexion et d\u2019Initiative pour l\u2019Avancement de la Grand\u2019Anse (GRIAG), Haiti<\/p>\n Grupo de Estudios en Finanzas Internacionales (GEFI) \/ Universidad Nacional de Rosario (UNR), Argentina<\/p>\n Hayat-RASED Center Jordan, Jordan<\/p>\n IBON International, International<\/p>\n IDdecoCR, Costa Rica<\/p>\n Initiative Citoyenne pour l\u2019Environnement et le D\u00e9veloppement Durable-ICED, Burundi<\/p>\n Institute for Economic Justice, South Africa<\/p>\n Institute for Economic Research and Policy Consulting, Ukraine<\/p>\n Institute for Political Economy, Sri Lanka<\/p>\n Institute of Analysis and Advocacy, Ukraine<\/p>\n International Federation of Social Workers, Switzerland<\/p>\n International Women\u2019s Rights Action Watch Asia Pacific (IWRAW AP), Malaysia<\/p>\n Iroko Charity Organisation, Nigeria<\/p>\n ISER \u2013 Initiative for Social and Economic Rights, Uganda<\/p>\n ITUC \/ Global Unions Washington Office, United States<\/p>\n Jamaa Resource Initiatives, Kenya<\/p>\n Jubilee Debt Campaign UK, United Kingdom<\/p>\n Jubilee Scotland, Scotland<\/p>\n Jubilee USA, United States<\/p>\n Justice is Global, United States<\/p>\n JusticeMakers Bangladesh, Bangladesh<\/p>\n KRuHA \u2013 People\u2019s coalition for the right to water, Indonesia<\/p>\n La Ra\u00edz \u2013 Pensamiento Cr\u00edtico (Ec), Ecuador<\/p>\n Labour and Social Studies Group, South Africa<\/p>\n LATINDADD, Peru<\/p>\n Ligue des droits de l\u2019Homme (LDH), France<\/p>\n MenaFem Movement for Economic Development and Ecological Justice, International<\/p>\n MenEngage Global Alliance, United States<\/p>\n Migrant Forum in Asia, Philippines<\/p>\n Mouvement pour la d\u00e9mocratie paritaire, Morocco<\/p>\n Movimiento Laudato Si, Peru<\/p>\n Movimiento Tzuk Kim pop, Guatemala<\/p>\n Mozambican Association for Active Citizenship, Mozambique<\/p>\n National Campaign for Sustainable Development Nepal, Nepal<\/p>\n National Society of Conservationists \u2013 Friends of the Earth Hungary, Hungary<\/p>\n Natural Justice, South Africa<\/p>\n New Rules for Global Finance, United States<\/p>\n NGO \u201cEkoltava\u201d, Ukraine<\/p>\n NGO ASRAD (Appui Solidaire Pour le Renforcement de L\u2019aide Au Develolppement), Mali<\/p>\n NGO Forum on the ADB, International<\/p>\n NGO: ADET, Togo<\/p>\n Observatoire d\u2019etudes et d\u2019appui a la responsabilite sociale et environnementale (OEARSE), Congo, Democratic Republic of the<\/p>\n Observatori del Deute en la Globalitzacio, Spain<\/p>\n Oikos \u2013 Coopera\u00e7\u00e3o e Desenvolvimento, Portugal<\/p>\n Oil Change International, United States<\/p>\n ONG EDER (Environnement, Developpement et Energies Renouvelables), Guinea<\/p>\n Organisation Guin\u00e9enne des Droits et Devoirs du Citoyen (OGDDC), Guinea<\/p>\n Organisation paysanne pour le developpement durable, Congo, Democratic Republic of the<\/p>\n Organizata Politike, Albania<\/p>\n Oxfam International, International<\/p>\n Oyu Tolgoi Watch, Mongolia<\/p>\n Pakistan Fisherfolk Forum, Pakistan<\/p>\n Pakistan Kissan Rabita Committee, Pakistan<\/p>\n Palestinian Human Rights Organization (PHRO), Lebanon<\/p>\n Partido Socialista Aut\u00e9ntico Federaci\u00f3n Corrientes, Argentina<\/p>\n Partners In Health, International<\/p>\n Phenix Center for Economic and Informatics Studies, Jordan<\/p>\n Philippine Misereor Partnership Inc. (PMPI), Philippines<\/p>\n PHM Kenya, Kenya<\/p>\n Plateforme Fran\u00e7aise Dette et D\u00e9veloppement (PFDD), France<\/p>\n Plateforme nationale des Citoyens Unis pour le D\u00e9veloppement (PCUD), Guinea<\/p>\n Policy Research Institute for Equitable Development (PRIED), Pakistan<\/p>\n Press Freedom Advocacy Association, Iraq<\/p>\n Programa Gobernanza sobre el Cambio Climatico, Costa Rica<\/p>\n Project on Organizing, Development, Education, and Research (PODER), Mexico<\/p>\n PWESCR, India<\/p>\n RDPI, Pakistan<\/p>\n Reacci\u00f3n Clim\u00e1tica, Bolivia<\/p>\n Realizing Sexual and Reproductive Justice, International<\/p>\n Recourse, Netherlands<\/p>\n Red de Justicia Fiscal de America Latina y El Caribe, International<\/p>\n Red Latinoamericana por Justicia Econ\u00f3mica y Social \u2013 LATINDADD, International<\/p>\n Red Mexicana de Acci\u00f3n frente al Libre Comercio (RMALC), Mexico<\/p>\n ReFocus Consulting, Canada<\/p>\n RENICC, Nicaragua<\/p>\n Right to Education Initiative, International<\/p>\n Rivers without Boundaries Coalition Mongolia, Mongolia<\/p>\n Rural Area Development Programme (RADP), Nepal<\/p>\n Rural Development Policy Institute (RDPI), Pakistan<\/p>\n Rural Reconstruction Nepal, Nepal<\/p>\n Servicios Ecumenicos para Reconciliacion y Reconstruccion, United States<\/p>\n Shirakat \u2013 Partnership for Development, Pakistan<\/p>\n Sisters of Charity Federation, United States<\/p>\n SocDevJustice, Germany<\/p>\n Social Justice Platform, Egypt<\/p>\n Social Scientists\u2019 Association, Sri Lanka<\/p>\n Society for International Development, International<\/p>\n Solidarit\u00e9 des Femmes sur le Fleuve Congo, Congo, Democratic Republic of the<\/p>\n South Asia Alliance for Poverty Eradication (SAAPE), Nepal<\/p>\n South Asia Tax and Fiscal Justice Network (SATaFJA), Nepal<\/p>\n South Feminist Futures, International<\/p>\n Southern Africa People\u2019s Solidarity Network (SAPSN), International<\/p>\n Stichting Projekta, Suriname<\/p>\n Stop TB USA, United States<\/p>\n SWORD, Pakistan<\/p>\n The Egyptian Initiative for Personal Rights, Egypt<\/p>\n The Institute of the Blessed Virgin Mary (IBVM) \u2013 Loreto Generalate, International<\/p>\n The Kvinna till Kvinna Foundation, Sweden<\/p>\n The Norwegian Solidarity Commitee for Latin-America (LAG), Norway<\/p>\n THE ROADMAP FOR PEACEFUL JUST AND INCLUSIVE SOCIETIES, Nigeria<\/p>\n The Sentry, United States<\/p>\n The Society for Children Orphaned By AIDS Inc. (SOCOBA), United States<\/p>\n Third World Network (TWN), International<\/p>\n Training and Research Support Centre, Zimbabwe<\/p>\n Uganda Debt Network, Uganda<\/p>\n UNISC International, Japan<\/p>\n Unlad Kabayan, Philippines<\/p>\n Upeo social justice center, Kenya<\/p>\n urgewald e.V., Germany<\/p>\n Vikas Adhyayan Kendra, India<\/p>\n VILUTHU, Sri Lanka<\/p>\n VIVAT International, United States<\/p>\n Voces, Ecuador<\/p>\n VWA FANM AYISY\u00c8N (VFA), Haiti<\/p>\n WECF International, Netherlands<\/p>\n Wedyan Association For Society Development, Yemen<\/p>\n WEED \u2013 World Economy, Ecology and Development, Germany<\/p>\n Wemos, The Netherlands<\/p>\n Win Without War, United States<\/p>\n WomanHealth Philippines, Philippines<\/p>\n Womankind Worldwide, International<\/p>\n Women Empowerment Against Poverty of Nepal (WEAPoN), Nepal<\/p>\n Women Media and Development, Palestine<\/p>\n Women\u2019s Budget Group, United Kingdom<\/p>\n Women\u2019s Environment and Development Organization (WEDO), United States<\/p>\n World Economy, Ecology & Development (WEED), Germany<\/p>\n Yemen Organization for Promoting Integrity, Yemen<\/p>\n Yemeni Observatory for Human Rights, Yemen<\/p>\n Youth Leader, Yemen<\/p>\n Zukunftskonvent Germany, Germany<\/p>\n Zurgaan buudal ngo, Mongolia<\/p>\n \u0627\u0644\u062c\u0645\u0639\u064a\u0629 \u0627\u0644\u062a\u0629\u0646\u0633\u064a\u0629 \u0644\u0644\u062d\u0648\u0643\u0645\u0629 \u0627\u0644\u0645\u062d\u0644\u064a\u0629, Tunisia<\/p>\n \u0627\u0644\u0645\u0631\u0643\u0632 \u0627\u0644\u0641\u0644\u0633\u0637\u064a\u0646\u064a \u0644\u0627\u0633\u062a\u0642\u0644\u0627\u0644 \u0627\u0644\u0645\u062d\u0627\u0645\u0627\u0647 \u0648\u0627\u0644\u0642\u0636\u0627\u0621 -\u0645\u0633\u0627\u0648\u0627\u0647 -, Palestine<\/p>\n \u062c\u0645\u0639\u064a\u0629 \u0627\u0644\u0634\u0628\u0627\u0628 \u0644\u0623\u062c\u0644 \u0627\u0644\u0634\u0628\u0627\u0628, Morocco<\/p>\n \u062c\u064a\u0644 \u0636\u062f \u0627\u0644\u062a\u0647\u0645\u064a\u0634, Tunisia<\/p>\n \u0645\u0631\u0643\u0632 \u0631\u064a\u0627\u062f\u0629 CLER, Morocco<\/p>\n \u0645\u0646\u0638\u0645\u0629 \u0648\u0633\u0637 \u0631\u0624\u064a\u0629 Amid Vision Organisation, Tunisia<\/p>\n \u0645\u0646\u0638\u0645\u0647 \u0634\u0624\u0648\u0646 \u0627\u0644\u0645\u0631\u0627\u0647 \u0648\u0627\u0644\u0637\u0641\u0644, Iraq<\/p>\n \u0648\u0633\u0637 \u0631\u0624\u064a\u0629 Amid Vision, Tunisia<\/p>\n<\/div>\n<\/div>\n<\/div>\n <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" CSOs call on the IMF to end harmful surcharges Dear members of the IMF Executive Board, At last year\u2019s Annual Meetings, Chair of the International Monetary and Financial Committee Ms. Nadia Calvi\u00f1o statedthat the Fund \u201cwill consider a review of surcharge policies.\u201d As the 2024 Spring Meetings approach, it is our understanding that the […]<\/p>\n","protected":false},"author":3,"featured_media":2681,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-statements"],"yoast_head":"\nOrganizations<\/strong><\/h4>\n