US Treasury opposes ending IMF surcharges

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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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