The International Monetary Fund should be allowed to sell some of its gold reserves to cushion Africa from the global economic crisis, African countries will argue at next month’s Group of 20 summit.

Meles Zenawi, Ethiopia’s prime minister, representing the continent, said the sell-off could raise between $5bn (€3.8bn, £3.6bn) and $15bn to be channelled through the IMF, World Bank and other multilateral institutions.