Poverty Reduction and Growth Facility

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 on September 16, 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 1ΒΌ billion yearly lending program to the targeted nations.[1]

References
  1. International Monetary Fund. (16 March 2021). "Factsheet: Gold in the IMF". IMF website Retrieved 20 June 2021.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.