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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: goldsnow who wrote (36151)6/29/1999 7:46:00 PM
From: Alex  Read Replies (3) | Respond to of 116898
 
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



To: goldsnow who wrote (36151)6/29/1999 8:34:00 PM
From: PaulM  Respond to of 116898
 
Brief Quote from Mitsui (the Andy Smith's Site) Yesterday

"First thing in the morning gold t/n was slightly higher, and the short dates have generally tightened up by about 10 points. I would not be worried about this though; there are still lots of lenders out there."

mitsui-gold.com



To: goldsnow who wrote (36151)6/30/1999 5:46:00 AM
From: Bobby Yellin  Read Replies (2) | Respond to of 116898
 
wish Egan had put his last comments first and asked who are the IMF and G7 really trying to benefit :
Others are concerned the plan could further erode the price of gold and, as a result,
negate much
of the benefit to the poor countries since 36 of them produce gold. "


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