$2.7 bn IMF gold sales profits to help poor

IMG Auteur
Published : September 29th, 2012
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Category : On the Web
Yahoo! UK & Ireland, in its September 29, 2012 article, reports that $2.7 bn IMF gold sales profits to help poor.

Extract :

 

 

 

 

The International Monetary Fund approved Friday $2.7 billion in gold sales profits to boost financing to low-income countries.

The IMF executive board earmarked the money for the global lender's concessional lending program, the Poverty Reduction and Growth Trust.

The distribution of the windfall profits will occur "only when members have given satisfactory assurances that an amount equivalent to at least 90 percent of the distribution will be made available to the PRGT," the institution said in a statement.

 

 

Read the rest of the article at Yahoo! UK & Ireland
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