SA's Manuel backs plan to sell IMF's gold

South Africa would back a British proposal to use International Monetary Fund (IMF) gold reserves to write off the debts of poor countries, finance minister Trevor Manuel said on Monday 17 January .

UK finance minister Gordon Brown has suggested the IMF use some of its gold reserves to write off $12 billion (R72 billion) of debt as part of a wide-ranging plan for poverty relief.

Asked if he supported the proposal, Manuel said the revaluing of the IMF's gold was "very necessary".

Manuel was speak