US Treasury opposes ending IMF surcharges
Biden administration rejects initiative championed by Democratic progressives
The US Treasury Department will not support eliminating or suspending loan surcharges levied on certain International Monetary Fund lending.
Assistant treasury secretary Jonathan Davidson told a group of Democratic legislators that the surcharges exist to protect the fund from losses.
A group of 18 Democrats in the US House sent Treasury secretary Janet Yellen a letter dated January 10, calling for the abolition of the loan surcharges. The Democrats argued that the policy deprived middle
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