International Monetary Fund (IMF) Executive Committee endorsed Sept. 18 sale of 403 tones of gold worth of estimated U.S. $13 billion to boost its lending capacity to low-income countries, AFP informs.
This decision was made by the Group-20 at the April 2009 summit in London.
“These sales will be conducted in a responsible and transparent manner that avoids disruption of the gold market,” IMF statement reads.
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