IMF cuts fees amid high rates and record borrowing
Fund judges its capital to be strong enough to allow more generous approach
The International Monetary Fund (IMF) has cut the interest rates and fees it applies to its lending facilities, as it uses its stronger capital position to offset some of the impact of high borrowing costs on its members.
On October 11, the fund’s executive board agreed to a package of changes that lowered the charges and raised the thresholds at which they would apply.
The IMF cut its main interest rate from a spread of 100 basis points to a spread of 60bp over the special drawing right (SDR)
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