IMF fees on war-torn countries closer to elimination

WASHINGTON (AP) — The International Monetary Fund is facing pressure to eliminate, or at least, reevaluate how it imposes fees on loans it disperses to needy countries like war-torn Ukraine — which is one of the fund’s biggest borrowers. An amendment to the defense spending bill would suspend IMF surcharges while their effectiveness and burden on indebted countries is studied. That was passed by the U.S. House in July. The Senate is expected to vote on its defense bill in September. Surcharges are added fees on loans imposed on countries that are heavily indebted to the IMF.