Friday, December 11, 2009

IMF Provides Funds for Dubious Green Investments

Another bubble forming? What was the role of the IMF to begin with?

From Bloomberg:

Billionaire George Soros asked the richest nations to use $100 billion of foreign-exchange reserves to finance emissions-reducing projects in poor countries.

The reserves, from the International Monetary Fund, would go into a green fund to “jump start” investments in rain forests, agriculture and land use that would lower carbon- dioxide emissions, the financier said today at climate negotiations involving more than 190 nations in Copenhagen.

http://www.bloomberg.com/apps/news?pid=20601170&sid=azLkakf3nQu0

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