Financial Times FT.com

IMF presses for gold sales to help relieve debt

By Andrew Balls in Washington

Published: March 30 2005 22:02 | Last updated: March 30 2005 22:02

The International Monetary Fund believes the best way to provide more debt relief for the world's poorest countries is for rich countries to come up with new resources to pay for up to 100 per cent relief on the sums owed to the IMF and World Bank.

Given the political difficulties in coming up with those funds, the IMF says the next best alternative might be carefully planned sales of a small portion of the IMF's gold.

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