IMF says can now use gold profits for low-income countries

Reuters

WASHINGTON, Oct 10 (Reuters) - The International MonetaryFund has received approval from its member nations to transferthe profits from gold sales conducted a few years ago to a fundto help low-income nations, IMF chief Christine Lagarde said onThursday.

"We have just reached the threshold of enough approval fromour membership to transfer the existing gold profit to meet thefinancing needs of our low-income countries," she said at a newsbriefing opening the fall meetings of the IMF and World Bank.

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