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Gold/Mining/Energy : Gold Price Monitor

GDXJ 142.09

+5.5%

Jan 22 4:00 PM EST

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To: goldsnow who wrote (36151)	6/29/1999 7:46:00 PM
From: Alex	Read Replies (3) of 116900

WGC: GHANA IMF GOLD PLAN REJECTION SIGNALS GROWING OPPOSITION New York--Jun 29--Ghana's public statement that it wants the IMF to stop its plans to sell gold to raise funds for debt relief is a significant and strong signal that opposition to the plan is growing, said Michael Barlerin, chief executive of Western Markets for the World Gold Council. Ghana is the largest gold producer among the heavily indebted poor countries (HIPC) which the IMF plan is aimed to help. (Story .18853) GHANA WANTS IMF TO HALT PLANS TO SELL GOLD FOR HIPC DEBT RELIEF Ghana--Jun 29-Ghana has said that the International Monetary Fund (IMF) should stop its plans to sell gold to raise funds for debt relief, calling the planned project counter-productive. "We have to bring this proposal to an immediate end," Ghana's Minister of Mines and Energy Fred Ohene Kena told Bridge. The IMF expects to set up a special fund with money from the gold sold and use interest accruing from it to finance debt reduction for highly-indebted poor countries. (Story .16721) futuresource.com

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