Written question asked by Lord Astor of Hever (Conservative) on Tuesday, 5 July 2016, in the House of Lords. It was due for an answer on Tuesday, 19 July 2016. It was answered by Lord O'Neill of Gatley (Conservative) on Friday, 15 July 2016 on behalf of the Treasury.

Moldova: Banks

Question: To ask Her Majesty’s Government what plans they have, if any, to encourage the International Monetary Fund to investigate the loss of funds from Moldova's banking system.

Answer: In May this year, the International Monetary Fund (IMF) sent a mission to Moldova to discuss the domestic authorities’ strategy for financial sector reforms and ensuring the safety and soundness of Moldova’s banks. According to IMF staff, progress was made towards agreement on the need to strengthen governance and tackle non-transparent shareholder structures in banks. Talks are expected to continue in the context of negotiations for an IMF programme to support Moldova, although timings have not yet been set. The Government will continue to monitor developments in Moldova and its interactions with the IMF.

Secondary information