Bundesbank opposed to IMF gold sale

The Bundesbank said Monday 4 April it firmly opposed the idea that the International Monetary Fund sell some of its gold reserves.

The idea was proposed to finance debt relief for some of the world's poorest nations as proposed by Britain.

"We've always pointed out that the IMF is not a development aid institution and that its general funds stemming from central banks' monetary reserves should not be used for development aid projects," a Bundesbank spokesman said, confirming a corresponding rep