IMF approves conditional distribution of gold profits


The executive board of the International Monetary Fund (IMF) today (February 24) approved the distribution of SDR 700 million ($1.1 billion) worth of profits from gold sales to "facilitate contributions to support concessional lending to low-income countries".

The distribution to all IMF members of reserves attributed to a "portion of the windfall profits from recent IMF gold sales" got the go ahead "with the expectation that members would return equivalent amounts to support concessional lendin

To continue reading...