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one to ponder
When governments get into trouble they borrow money from the IMF which stands for international monetary fund what puzzles me is where does that body get there money from (?)
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6 Replies
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I wouldn’t be surprised if no one actually knew the answer to that one Brian 😕
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quote BrianGreen:When governments get into trouble they borrow money from the IMF which stands for international monetary fund what puzzles me is where does that body get there money from (?)The IMF is almost entirely funded by the US. Congress controls how much funding it gets, and the quota is reviewed intermittently. The last being in 2000 I think.
Essentially the IMF is just a bank. Any country that borrows money must pay it back at interest.
When Russia defaulted on its $11bil loan, it put them in a difficult situation with America. Most country’s that rely on IMF funding would, theoretically, consider the US a saviour, but in reality, its just another business transaction, which America treats as such, and relies on income from it to help fund more grandiose plans – everything from humanity aide to war.
Even tho the IMF is essentially neutral in terms of politics, in real terms, the majority party that controls congress, effectively control the IMF ideals. They are bound by a charter tho, so that tends to keep them on an even keel, so to speak.
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if i understand correctly it is basically america so who do they borrow from
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quote BrianGreen:if i understand correctly it is basically america so who do they borrow fromBill Gates 😀
Peter
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quote Peter Normington:quote BrianGreen:if i understand correctly it is basically america so who do they borrow fromBill Gates 😀
Peter
😀 😀 😀 😀
Peter
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I’d lend the government a bit.
But only if they were prepared to pay a decent interest rate.
Otherwise they can go whistle. 🙁
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