Press Release: IMF Concludes Gold Sales

IMF News, December 21, 2010

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Press Release: IMF Concludes Gold Sales

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Bibliographic details

• Published: December 21, 2010

Summary of action

• The International Monetary Fund (IMF) announced the conclusion of the limited sales program covering 403.3 metric tons of gold.
• The sales program was approved by the Executive Board in September 2009 (see Press Release No. 09/310).
• Announcement date: December 21, 2010.

Purpose and policy context

• The gold sales are a central element of the new income model for the IMF endorsed by the Executive Board in April 2008.
• The sales are intended to increase the Fund’s capacity to support low-income countries under a strategy endorsed by the Board in July 2009 (Press Releases No. 08/74 and No. 09/268).

Modalities and execution

• Sales were conducted under modalities designed to safeguard against disruption of the gold market.
• All gold sales were at market prices, including direct sales to official holders.

Source: Press Release No. 10/509 (December 21, 2010).

References

• Press Releases
• PRESS CENTER
• Press Release No. 09/310
• No. 08/74
• No. 09/268
• https://www.imf.org/en/home