INVESTIGADORES
CANTAMUTTO Francisco J.
artículos
Título:
IMFs Surcharges as a Threat to the Right to Development
Autor/es:
JUAN PABLO BOHOSLAVSKY; CANTAMUTTO, FRANCISCO JOSÉ; LAURA CLÉRICO
Revista:
Development
Editorial:
Palgrave McMillan
Referencias:
Año: 2022 vol. 65 p. 194 - 202
ISSN:
1011-6370
Resumen:
This article focuses on the implications of the IMFs surcharges policies, jointly with its de facto preferred 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 IMFs 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 of default, the article questions the IMFs de facto preferred creditor status, as it precisely denies the possibility of granting debt relief in case of insolvency, ultimately affecting the right to development of mainly middle-income borrowing countries.