IMF Concludes Gold Sales to Central Banks, Market
This article is for subscribers only.
The International Monetary Fund said it concluded the planned sale of about 13 percent of its gold reserves to central banks and to market participants.
The institution agreed in September 2009 to dispose of 403.3 metric tons of bullion as part of a plan to shore up its finances and lend at reduced rates to low-income countries. More than half of the gold amount was acquired by the central banks of India, Mauritius, Sri Lanka and Bangladesh, according to past announcements.