The IMF director added that the discussion on the matter is being constructive and that the possibility of selling “is on the table”.
The director of the International Monetary Fund (IMF), Kristalina Georgieva, pointed out on Tuesday that the possibility of her institution selling gold to respond to emergencies “is on the table”, although there is no consensus.
“It is a topic on which some of our members firmly believe that selling gold is only a last resort in case of an unforeseen emergency. There are many who say ‘let’s sell it out’ and others who say ‘wait a minute, let’s not get ahead of ourselves’, said Georgieva, during a meeting of the Center for Global Development.
The IMF director added that the discussion on the matter is being constructive and that the possibility of selling “is on the table”.
The IMF recalls, on its website, that it is one of the largest holders of gold in the world, with 2,814.1 metric tons.
Based in Washington, the IMF has no power to purchase gold or engage in gold transactions, either loan or lease, but it can sell gold directly at the market price and accept gold from member states that repay loans.
In the past, the IMF has returned gold to members and sold it as well.
