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IMF Has $2.79 Billion Windfall Profit on Gold Sale, Debates Use
Apr. 09, 2011 08:16AM PST
Precious Metals Investing
Bloomberg reported on considerations by the International Monetary Fund on how to use profits from gold sales.
Bloomberg reported on considerations by the International Monetary Fund on how to use profits from gold sales.
The market news is quoted as saying:
Many executive directors on the IMF board supported using the extra profit for lending at lower rates, the IMF said. Many also backed putting it toward the fund’s precautionary balances or putting it in the endowment, where most of the profit is already going to go, it said.
