New York - Saba:
The International Monetary Fund (IMF) has reduced borrowing costs for its members by around $1.2 billion annually, according to Kristalina Georgieva, the Fund's Managing Director.
The measures will reduce borrowing costs for member countries by 36%, equivalent to about $1.2 billion annually.
The number of countries subject to additional fees is expected to decrease from 20 to 13 in the fiscal year 2026.
The changes will come into effect on November 1st. Five countries, Ukraine, Egypt, Argentina, Ecuador, and Pakistan, pay the highest additional fees to the IMF.
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