Campaigners urge IMF to sell gold to provide debt relief (Gaurdian)

With a looming developing world debt crisis high on the agenda at this week’s annual meetings of the IMF, the Jubilee Debt Campaign (JDC) said gold sales would help the most vulnerable countries cope with the Covid-19 shock and pave the way for a broader debt deal.

The IMF holds 90.5m ounces of gold, or 2,814 metric tonnes, worth about $175bn (£134bn) at current prices.

A sharp rise in the price of the precious metal means that since the start of 2020 the value of the IMF’s gold reserves has increased in value by $38bn.

https://www.theguardian.com/business/2020/oct/11/campaigners-urge-imf-t…