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IMF to use profits from gold sales to boost loans to low-income countries

  • Middle East: Sunday, September 30 - 2012 at 03:36

The International Monetary Fund (IMF) has approved distribution of $2.7bn in remaining "windfall gold sales profits as part of a strategy to bolster the IMF's concessional lending vehicle for low-income countries, Kuna has reported. This a "major step towards putting our important concessional lending operations for low-income members on a sustainable footing," said IMF managing director Chrsitine Lagarde.

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