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Add comment on:IMF Gold Sales
Last week, the Executive Board of the IMF approved the second installment of the nearly $2.7 billion from their windfall gold sale profits to support concessional lending to low-income nations through the Poverty Reduction and Growth Trust (PRGT) and extend a 0% interest rate that will make this trust available for future generations beyond 2014. This momentous move is in conjunction with their approval of the first installment of $1.1 billion to do the same, totaling roughly $4 billion to go into the PRGT.
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