There have been a number of calls for the International Monetary
Fund (IMF) to sell part of its 103 million ounce gold holdings as
part of a plan for debt relief for the heavily indebted poor
countries (HIPC). One such proposal has been advanced by the
Administration, and officials of several other nations as well as
the IMF have voiced support for similar plans. The proposed gold
sales would require Congressional approval, and debate on this
change in policy is already underway.
Although the exact form of the proposal is not yet clear, there
are several reasons for Congress to critically examine this
proposal and review the potential for negative consequences...
General
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