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G20 Brazil 2024
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Reforming the international financial architecture

Making The Imf Fit For Purpose: An Analysis And A Proposal For Reforming The Fund’s Current Interest Rate Policy

Emiliano Libman (Fundar (Argentina)), Maia Colodenco (Sudamericana Vision (Argentina)), Anahi Wiedenbrug (Sudamericana Vision (Argentina)), Jens van ‘t Klooster (University of Amsterdam (the Netherlands)), Sara Murawski (Sustainable Finance Lab (The Netherlands)), Sander Tordoir (Centre for European Reform (Germany)), Michael Waibel (University of Vienna (Austria))

Abstract

In 2024, debtor countries will pay the International Monetary Fund (IMF) an effective annual interest rate of up to 8 basis points. The current lending rate policy is procyclical, it amplifies the global spill-over ofmonetary policy and makes it harder for IMF programs to promote economic recoveries. We recommend setting a cap on the lending rate and/or devising a surcharge-sliding scale.

G20 Brazil 2024
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Authors

Emiliano Libman (Fundar (Argentina)), Maia Colodenco (Sudamericana Vision (Argentina)), Anahi Wiedenbrug (Sudamericana Vision (Argentina)), Jens van ‘t Klooster (University of Amsterdam (the Netherlands)), Sara Murawski (Sustainable Finance Lab (The Netherlands)), Sander Tordoir (Centre for European Reform (Germany)), Michael Waibel (University of Vienna (Austria))

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