The number of countries paying these surcharges has more than doubled in the last four years, and the IMF is projected to charge an additional $9.8 billion in surcharges in the next five years.

This issue widens global inequities and is important to acknowledge as it places a significant financial burden on already indebted countries.

The text discusses criticisms of the International Monetary Fund's (IMF) surcharge policy, which involves levying additional fees on countries with large IMF debts.

Critics argue that these surcharges do not encourage faster repayment, instead punishing countries with liquidity constraints, increasing the risk of debt distress, and diverting resources from economic recovery efforts.

The report mentioned in the text shows that countries such as Ukraine, Egypt, Argentina, Barbados, and Pakistan pay the majority of these surcharges, accounting for 90% of the IMF's surcharge revenues and 50% of its total revenue in 2023.

Kevin Gallagher, the Director of the Global Development Policy Center, stated that these surcharges are "pro-cyclical" as they increase debt service payments during times when borrowing countries most need emergency financing.

The text discusses the economic pressure faced by vulnerable countries due to rising surcharges and global shocks.

According to data from the Institute of International Finance, global debt levels reached a record high of $313 trillion in 2023, and the debt-to-GDP ratio for emerging economies also reached new peaks.

The International Monetary Fund (IMF) has acknowledged the challenges faced by low-income countries, with Managing Director Kristalina Georgieva emphasizing the need to address these issues.