IMF Will Not Partner With Proven Corrupt Countries, Says Christine Lagarde

IMF Will Not Partner With Proven Corrupt Countries, Says Christine Lagarde

By Vanguard on April 11, 2014
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Christine Lagarde, Managing Director, International Monetary Fund (IMF), Washington DC; World Economic Forum Foundation Board Member is seen during the Session 'The Global Economic Outlook' at the Annual Meeting 2013 of the World Economic Forum in Davos, Switzerland, January 26, 2013. | WEF/Moritz Hager

Managing Director, International Monetary Fund, IMF, Mrs Christine Lagarde, yesterday, said that if there are proven cases of corruption against any country not just Nigeria, it will not enter into any monitoring programme with it.

She said that there were instances when the Fund insisted on documentary evidence relating to contracts before entering into programme discussion with such countries.

Answering reporters’ question at a briefing on the situation in Nigeria where government is alleged to be victimising whistleblowers, Lagarde said: “It is a very important question.

“I can assure you that there are cases when countries, and I would not single out African countries, come for negotiations for a monitoring programme, whether with or without funding, where we have that dialogue with the authorities about the authenticity, the evidence relating to contracts, to licenses, the ways in which business has been conducted.

“There has been instances under my watch where we have said, sorry, but unless and until we have documented information about the circumstances under which such contract, such mining rights were granted, unfortunately we cannot work together.

“I can assure you that it is efficient. And I applaud any instances when authorities, in Africa or elsewhere, actually have the courage to step up and identify when there are shaky, if not shady, circumstances under which those rights are granted.

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