Bailout cash repayment unlikely
A report from The International Monetary Fund (IMF) yesterday cast doubts over hopes that the Treasury could recover money it spent on bailing out the banks. The UK’s bank guarantees are equivalent to over a third of GDP, more than any other country the IMF said. The IMFadded that the government should plan the disposal of the stakes carefully to avoid a crisis in the public finances. “Proper management of financial assets and liabilities, at the sovereign level, is essential to protect fiscal solvency,” it said.