IMF's de Rato says G7 open minded on gold sales

International Monetary Fund managing director Rodrigo Rato said the Group of Seven leading industrialized nations were "open-minded" about allowing the Fund to sell part of its gold reserves.

An advisory panel said recently that the IMF should sell 400 tons of gold and invest the proceeds in interest-bearing assets.

De Rato said he discussed a new income model for the IMF, while attending the meeting of G-7 finance ministers and central bankers in Essen, Germany, last weekend.

"There is an open-