## Partial Distribution of the General Reserve Attributed to Windfall Gold Sale Profits--Proposed Decision

_Policy Papers, February 1, 2012_

## Source details

**Canonical URL:** [Partial Distribution of the General Reserve Attributed to Windfall Gold Sale Profits--Proposed Decision](https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/partial-distribution-of-the-general-reserve-attributed-to-windfall-gold-sale-profits-pp4635)

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## Bibliographic details
- Published: February 1, 2012
- Series: Policy Papers

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### Proposal overview
- Proposes the distribution of a portion of the Fund’s general reserve that is attributed to profits from recent Fund gold sales.
- The proposed distribution is part of a strategy endorsed by the Board in July 2009 to use resources linked to gold sale profits to facilitate members’ contributions towards Poverty Reduction and Growth Trust (PRGT) subsidies.

### Context and rationale
- Strategy formulated in the context of a comprehensive reform of the Fund’s Low Income Country (LIC) facilities and concessional financing framework approved by the Executive Board.
- The reform included a financing package aimed at ensuring the PRGT’s capacity to lend concessional resources of up to SDR 11.3 billion ($17 billion) during the period 2009–14.

### Financing package and expected contributions
- Financing package included an agreement to raise SDR 1.5 billion in subsidy resources.
- Of the SDR 1.5 billion, SDR 0.5–0.6 billion (in end-2008 NPV terms) was expected to be generated from resources linked to profits from gold sales.

### Metadata and publication
- Publication title: Partial Distribution of the General Reserve Attributed to Windfall Gold Sale Profits--Proposed Decision
- Publication date: February 1, 2012
- Subject tags (as provided): Executive Board decisions; Fund reserves; General Resources Account; Gold sales by Fund; Poverty Reduction and Growth Trust; Profits; Use of Fund resources

*Source: Partial Distribution of the General Reserve Attributed to Windfall Gold Sale Profits--Proposed Decision (February 1, 2012), IMF web landing page.*

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_Source: https://www.imf.org/en/publications/policy-papers/issues/2016/12/31/partial-distribution-of-the-general-reserve-attributed-to-windfall-gold-sale-profits-pp4635_