Africa: Selling IMF gold to finance debt relief

Debt owed to the International Monetary Fund (IMF), World Bank and other multilateral institutions has grown rapidly in recent years and these institutions are now the major creditors of the world's poorest countries. Civil society organisations across the globe have long advocated the use of the International Monetary Fund's impressive and massively undervalued gold reserves to fund further debt relief for impoverished nations. Now the viability of this proposal, after years of opposition, has been formally recognised by the staff of the IMF in a new paper. Read more at the website of European Network on Debt and Development.