The International Monetary Fund (IMF) is going to remove Sri Lanka from its list of surcharge countries from November 1.
Last year, Sri Lanka joined the list of 22 heavily indebted countries facing controversial surcharges imposed by the International Monetary Fund. A recent announcement issued by them indicates that Sri Lanka will be among the eight countries that will not be subject to surcharges from the first of November.
19 of the 52 member countries that currently borrow from the IMF’s General Resources Account are subject to surcharges. According to the review conducted last August, the report issued will come into effect from November 1, 2024, thereby reducing the number of countries paying surcharges from 19 to 11.
Accordingly, eight countries have been removed from the category with surcharges. Accordingly, Benin, Côte d’Ivoire, Gabon, Georgia, Moldova, Senegal, Sri Lanka and Suriname have been removed from the superannuation list.