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IMF expert committee recommends sale of 400 tonnes of gold worth 6.6 bln usd

IMF expert committee recommends sale of 400 tonnes of gold worth 6.6 bln usd

WASHINGTON – An expert committee of the International Monetary Fund has advised the IMF to sell 400 tonnes of its gold reserves, worth approximately 6.6 bln usd, as part of a new strategy to avert a long-term crunch in its finances.
But the International Monetary Fund should proceed with care in selling any gold to avoid destabilizing world markets, the panel members including former Federal Reserve chief Alan Greenspan recommended.
The IMF has more than 3,200 metric tons of gold as part of its financial stockpile.
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