IMF says sell off Lloyds and RBS

THE INTERNATIONAL Monetary Fund (IMF) will today tell the government that now is the time to sell its stakes in Lloyds and RBS, according to reports.

A report into the UK economy, set to be released this morning, will urge the Treasury to speed up its disposal of the stakes it acquired in 2008 when the banks were on the brink of collapse, according to The Times.

Lloyds’ share price has recently surpassed the value it was bought at, although RBS’s remains below.