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International Monetary Fund: Gold

Volume 470: debated on Thursday 10 January 2008

To ask the Chancellor of the Exchequer what assessment he has made of the economic implications of the sale of gold by the International Monetary Fund. (177507)

Any IMF gold sales would require a 85 per cent. vote in favour by the members of the IMF. The UK Government believe that any sales of gold should take place in an orderly way, phased overtime, and within the bounds set by official sellers of gold in recent years so as to avoid disruption to the gold market.