The US Can Make Billions Available to Ukraine at No Cost to Itself

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The US Can Make Billions Available to Ukraine at No Cost to Itself
Human RightsInternational Monetary FundUnited States
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Manasi Karthik is a Research Fellow at the Center for Economic and Policy Research. She holds an M.A. in Anthropology and Development from SOAS, University of London and an M.A. in Sociology from Johns Hopkins University, where she is now finishing her Ph.D.

The United States has a chance to save Ukraine billions of dollars, and at no cost to U.S. taxpayers, by pushing for an end to the unfair and harmful surcharge policy of the International Monetary Fund . The IMF is currently reviewing this surcharge policy, which hits Ukraine —and other highly indebted borrowers like Kenya, Ecuador, Argentina, Barbados, and Egypt—with additional charges on top of standard interest and service fees.

members of Congress, the IMF announced earlier this year that it would carry out a review of the controversial policy. Following consultations with IMF stakeholders— in particular, the US Treasury Department—the Fund is expected to announce the results of its review, and any recommendations of changes to the policy, before the IMF’s Annual Meetings in October.

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