Asked by: Lord Astor of Hever (Conservative - Excepted Hereditary)
Question to the HM Treasury:
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.
Answered by Lord O'Neill of Gatley
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.