November 7, 2017 / 9:43 AM / 4 months ago

France proposes tax avoidance states face IMF, World Bank sanctions

BRUSSELS, Nov 7 (Reuters) - French Finance Minister Bruno Le Maire proposed to EU counterparts on Tuesday that countries that did not do enough to fight tax avoidance should no longer be able to draw on the support of international institutions.

“We are thinking, for instance, about the possibility of cutting financial support of the international institutions like the IMF or the World Bank on the states that would not provide the needed information on tax evasion,” Le Maire told reporters.

“That’s the proposal we will put on the table today at the Ecofin,” he continued, referring to the meeting of EU finance ministers. (Reporting by Francesco Guarascio, Lily Cusack, writing by Philip Blenkinsop)

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