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Originally Posted by heero_yuy
I'm puzzled: We don't have any money so we'd need to loan it from somebody else to be able to loan it to the IMF. So why don't the IMF go to that somebody else and leave us out of the circuit?
Or is this about posing on the world stage like with foriegn aid?
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It's all about safeguarding jobs ......aparently.
---------- Post added at 11:50 ---------- Previous post was at 11:40 ----------
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The UK Treasury pointed out that no country has ever lost money lending to the IMF in its 67-year history
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is that correct ?and if so how much do we make from lending money .
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It says its contribution to the IMF is not public spending. All UK loans to the IMF are financed from the UK's Official Reserves, remain UK assets and do not contribute to public sector net debt.
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Hold on minute .We have £10billion ,probably much more ,sitting around doing nothing for the country ,a "war chest" if you will .Surely such a fund is for emergencies and bad times ......like now ?
http://www.bbc.co.uk/news/business-17790831