Call for IMF gold sale to aid Africa

The International Monetary Fund should be allowed to sell some of its gold reserves to cushion Africa from the global economic crisis, African countries will argue at next month’s Group of 20 summit.

In the past, African gold producers have opposed the idea of the IMF selling off its reserves because of its likely impact on world prices.

“Gold prices are doing well now so a slight correction to mobilise resources for Africa would not be that difficult,” Mr Meles argued.

FT.com / Africa - Call for IMF gold sale to aid Africa