Poverty Reduction and Growth Facility
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The Poverty Reduction and Growth Facility (PRGF) is an arm of the International Monetary Fund which lends to the world's poorest countries. It was created in September 1999, replacing the Enhanced Structural Adjustment Facility. In 2009 the organization sold 212 metric tons of gold in separate off-market transactions and then gradually sold 191.3 tons of gold to fund the SDR 1¼ billion yearly lending program to the targeted nations.[1]
References[]
- ^ International Monetary Fund. (16 March 2021). "Factsheet: Gold in the IMF". IMF website Retrieved 20 June 2021.
External links[]
Categories:
- International Monetary Fund
- International finance
- International development
- Intergovernmental organizations
- Global policy organizations