Will the IMF loan give George another headache?
Are there more government PR problem in the offing? It’s no coincidence that none of the additional $400bn the IMF is raising from its members has come from the USA. There are elections there this year and neither members of Congressmen nor the president would be likely to be thanked by the electors for being seen to send scarce resources overseas to rescue spendthrift governments. The decision of George Osborne to authorise British funding of £10bn loan to the IMF…