IMF’s Surcharges as a Threat to the Right to Sustainable Development"

BOHOSLAVSKY JUAN PABLO; CANTAMUTTO FRANCISCO; CLÉRICO LAURA

Development

Palgrave Macmillan

Lugar: Londres; Año: 2022 vol. 65 p. 194 - 202

1011-6370

This article focuses on the implications of the IMF’s surcharges policies, jointly with its de factopreferred creditor status, on the right to sustainable development of sovereign borrowers. The article argues that, while surcharges are not effective in limiting access to IMF credit, they inequitably distribute the IMF’s operating costs, are disproportionate, pro-cyclical, very costly for developing countries, and non-transparent. Furthermore, if surcharges are theoretically a way to protect the IMF from potential risks on payments, the article questions the IMF’s de factopreferred creditor status, as it precisely denies the possibility of granting debt relief in case of insolvency, ultimately affecting the right to sustainable development of —mainly— middleincome borrowing countries.Revista en inglés Grupo 1.Versión en castellano: Bohoslavsky, Juan Pablo, Francisco Cantamutto, Laura Clérico «La política De Sobrecargos Del FMI Como Una Amenaza Al Derecho Al Desarrollo». Revista De La Escuela Del Cuerpo De Abogados Y Abogadas Del Estado, n.º 8, 2022 diciembre: 205-26. https://revistaecae.ptn.gob.ar/index.php/revistaecae/article/view/197.