Question to the HM Treasury:

To ask Her Majesty's Government what steps they have taken to ensure that the IMF's support for Lebanon (1) is subject to strict oversight and monitoring, and (2) has mechanisms in place to ensure it is not misspent.

IMF programmes in general are subject to strict policies of oversight and monitoring, underpinned by well-established mechanisms.

Under its Articles of Agreement, the IMF must establish adequate safeguards for the use of its resources. IMF lending requires safeguards covering key areas of governance and control to help mitigate the risks of misuse of Fund resources and misreporting of data. These safeguards may include limits on how much can be borrowed, conditions on the loans, measures to deal with misreporting or arrears, and safeguard assessments of central banks.

The UK uses its seat at the IMF’s Board to help shape these policies and ensure that they are applied across all the IMF’s lending arrangements.