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Overseas Loans: Disclosure of Information

Treasury written question – answered on 19th October 2018.

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Photo of Roger Godsiff Roger Godsiff Labour, Birmingham, Hall Green

To ask the Chancellor of the Exchequer, whether the UK plans to (a) support and (b) seek a G20 commitment to provide transparency and disclosure of all loans made by governments and multilateral institutions.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The UK strongly supports the transparent and sustainable lending practices to sovereigns, particularly low-income countries (LICs).

In 2017, the G20 agreed Operational Guidelines for Sustainable Financing to promote transparent and sustainable lending to LICs from G20 members. The UK is working with G20 partners to ensure the ongoing implementation of the Guidelines.

In April 2018, the International Monetary Fund (IMF) and World Bank Group (WBG) announced a joint multi-pronged approach to promote debt transparency and sustainability in LICs. The UK will continue to work with other G20 members to monitor the progress of this work programme which is led by the multilateral institutions.

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