Geoffrey Robinson
Main Page: Geoffrey Robinson (Labour - Coventry North West)Department Debates - View all Geoffrey Robinson's debates with the HM Treasury
(12 years ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Osborne
Yes, I can. IMF loans are repaid and they always have been in the past. No country has lost money giving resources to the IMF and such loans are repaid with interest. Indeed, if I can find the quotation—[Interruption.] It is worth waiting for, because it is from the shadow Chancellor. When the shadow Chancellor was in the Treasury, he said that IMF lending to
“countries is invariably repaid with interest.”
That is what he said in 2003. I can give my hon. Friend the assurance that loans to the IMF are made to the most creditworthy institution in the world and are repaid.
Mr Geoffrey Robinson (Coventry North West) (Lab)
Last summer, the Financial Secretary, I think, said that alongside a quota increase, contributions under the new agreement to borrow would be reduced. Can the Chancellor tell the House whether they have been?