Written question asked by John Howell (Conservative) on Wednesday, 8 July 2020, in the House of Commons. It was due for an answer on Monday, 13 July 2020 (named day). It was answered by John Glen (Conservative) on Monday, 13 July 2020 on behalf of the Treasury.
International Monetary Fund: Lebanon
- Question
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To ask the Chancellor of the Exchequer, pursuant to the Answer of 7 July 2020 to Question 68305 on Loans: Lebanon, what risks of misuse the International Monetary Fund has identified for loan packages to Lebanon; and what plans he has for conditions on lending relating to Hezbollah in Lebanon.
- Answer
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The IMF must establish adequate safeguards for use of its resources, consulting and updating the Board of Directors, as its policy develops. Safeguards can include for example: strengthening auditing or procurement rules, and wider Central Bank reform. The UK uses its seat on the IMF Board, in conjunction with other board members, to help ensure that programme conditions are consistent with the IMF’s mandate.
There have not been formal discussions at the IMF board on Lebanon, though the IMF’s spokesman has said recently that “there is significant scope to strengthen the transparency and accountability of economic policies, and public sector entities.”
Secondary information
- Type
- Written question
- Reference
- 71019
- Session
- 2019-21
- Related items
- Subjects
- International Monetary Fund Hezbollah Lebanon
- Link
- View this Written question on www.parliament.uk
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- Timestamp
- 2020-09-01 12:52:49 +0100
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- http://data.parliament.uk/writtenparliamentaryquestion/commons/2019-21/71019
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