The Guardian/Larry Elliott/10-11-2020
“Debt campaigners are calling for the International Monetary Fund to sell some of its stockpile of gold to cover the debt payments owed by the world’s poorest countries for the next 15 months. With a looming developing world debt crisis high on the agenda at this week’s annual meetings of the IMF, the Jubilee Debt Campaign (JDC) said gold sales would help the most vulnerable countries cope with the Covid-19 shock and pave the way for a broader debt deal.”
USAGOLD note: A spokesman for the IMF is quoted in the article as saying it “has no plans to sell gold at this time.” The JDC, by the way, is a UK-based organization that would like to resurrect, according to its website, “the ancient concept a debt jubilee – “a time when debts were cancelled, slaves freed, and land and wealth redistributed, bringing about greater fairness and equality in the economy and society.” It has a staff of six people.
