• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, September 13, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

IMF Lowers Borrowing Costs By 36%

by Leadership News
11 months ago
in Business
Reading Time: 2 mins read
IMF
Share on WhatsAppShare on FacebookShare on XTelegram

The Executive Board of the International Monetary Fund (IMF) has approved to lower the IMF’s borrowing costs for members by 36 per cent, or about 1.2 billion dollars annually.

Advertisement

A statement, issued by the IMF Press Centre, said this was the outcome of the fund’s Board Review of Charges and the Surcharge Policy yesterday.

It said following the outcome of the meeting, Ms Kristalina Georgieva, Managing Director of the IMF, issued the following statement.

“In a challenging global environment and at a time of high interest rates, our membership has reached consensus on a comprehensive package.

“This package substantially reduces the cost of borrowing, while safeguarding the IMF’s financial capacity to support countries in need.

“The approved measures will lower IMF borrowing costs for members by 36 per cent, or about 1.2 billion dollars annually.

“The expected number of countries subject to surcharges in fiscal year 2026 will fall from 20 to 13.

“This is achieved by reducing the margin over the Special Drawing Rights (SDR) interest rate, raising the threshold for level-based surcharges, lowering the rate for time-based surcharges, and increasing the thresholds for commitment fees.”

Georgieva said the approved package would take effect on Nov. 1, 2024.

“While substantially lowered, charges and surcharges remain an essential part of the IMF’s cooperative lending and risk management framework, where all members contribute and all can benefit from support when needed.

RELATED

Ginger Farmers Lose N12bn To 2023 Blight Epidemic

Investing In Ginger Farming For Export

2 hours ago
Helen: Excelling In Event Planning Industry Through Passion

Helen: Excelling In Event Planning Industry Through Passion

2 hours ago

“ Together, charges and surcharges cover lending intermediation expenses, help accumulate reserves to protect against financial risks, and provide incentives for prudent borrowing.

“This provides a strong financial foundation that allows the IMF to extend vital balance of payments support on affordable terms to member countries when they need it most.”

The IMF boss said the reforms would help ensure that the IMF would continue serving its members in a changing world.

The statement said charges and surcharges did not apply to borrowing from the IMF’s Poverty Reduction and Growth Trust, under which low-income members receive financial support on concessional terms.(NAN)

Join Our WhatsApp Channel

Tags: International Monetary Fund (IMF
SendShare10169Tweet6356Share
ADVERTISEMENT
Previous Post

$3.5bn Brass Fertiliser Project: NNPC, Partners Sign Gas Agreement After 9 Years

Next Post

Crude Supply: Dangote To Develop 2 Oil Assets

Leadership News

Leadership News

You May Like

Ginger Farmers Lose N12bn To 2023 Blight Epidemic
Business

Investing In Ginger Farming For Export

2025/09/13
Helen: Excelling In Event Planning Industry Through Passion
Business

Helen: Excelling In Event Planning Industry Through Passion

2025/09/13
Leveraging Benefits Of AI For Nigerian Businesses
Business

Leveraging Benefits Of AI For Nigerian Businesses

2025/09/13
How Businesses Can Navigate Marketing Complexity — Expert
Business

Sustaining Profit As Small Business Owner

2025/09/13
BUA Foods Declares N111.5bn Profit After Tax For 2023
Business

BUA Foods Commits To Sugar Self-sufficiency With Backward Integration Project

2025/09/13
‘Kerojet Services Opens Will Accelerate National Growth’
Business

‘Kerojet Services Opens Will Accelerate National Growth’

2025/09/13
Leadership Conference advertisement

LATEST

Injury Rules Out Chelsea’s Delap Until December

Slavia Prague Sign Nigerian Youngster, Suleiman

Aina Sidelined For Three Months With Injury

LGs Unveil Fixtures For Zenith Bank/ Delta Principals’ Cup

UBEC Trains Bauchi Sports Desk Officers, Game Masters

Team Nigeria Aims For Medal Glory As 2025 World Athletics Championships Kick Off In Tokyo

Handball: HFN Unveils Squad For U-18 African Tourney

Tobi Amusan Slams Team Nigeria’s World Championships Kit

Draped In Power: The Unstoppable Allure Of Black

BBN S10: I Will Launch My Food Business And Cooking Show In Lagos – Big Soso

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.