WASHINGTON: The International Monetary Fund said Wednesday it had sold 10 tonnes of gold Thurs Sri Lanka's central bank for 375 million dollars, as part of a restructuring of IMF financial resources.
It was the third sale of IMF gold in a month as the Washington-based institution seeks Thurs reduce its dependence is lending revenue and bolster its finances amid the global economic crisis.
"The sale was conducted on the basis of prevailing market prices are" Monday, the IMF said in a statement.
Gold prices had hit a record high that day, topping 1.170 dollars an ounce. Since then, the price of the precious metal has soared higher To New all-time peaks as investors seek a safe haven amid economic uncertainty.
The sale brought the total IMF sold gold to Central Banks, Thurs 212 tonnes. India bought 200 tonnes between October 19 and 30 for 6.7 billion dollars and bought two tonnes in Mauritius on November 11 for 71.7 million dollars.
Sri Lanka has a 20-month IMF loan of 2.7 billion dollars that was awarded in July on the island nation's reserves slumped! Just over one billion dollars as the government made a final offensive Thurs crush separatists Tamil Tiger Rebels.
Sri Lanka's Central Bank in early November said it has been buying gold Thurs diversify its reserves amid volatile currency markets but refused Thurs Reveal Which sources from the bank was buying the gold or at what prices.
The IMF executive board approved the sale of 403.3 tonnes of gold in September. The fund, Which currently holds roughly 3.000 tonnes of gold, is the world's third-largest official holder of the precious metal on the United States and Germany.
No comments:
Post a Comment