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To: long-gone who wrote (40286)	9/14/1999 2:40:00 PM
From: Alex	Read Replies (1) \| Respond to of 116762

SAfrica to seek G7 assurance on halting central bank gold sales CAPE TOWN (AFX) - Finance Minister Trevor Manuel said he will seek assurances from the G7 towards an end to central bank gold sales. Welcoming reports that the IMF has dropped plans to sell its gold reserves to finance debt relief to developing countries, Manuel said that South Africa wants similar pledges from the leading industrialised nations. "We must seek to secure some commitment from the G7," Manuel told a press conference. "We need to take measures that take into account the needs of all developing countries, including the gold producing ones," he said. The minister said South Africa would also use the annual IMF and World Bank meeting in Washington on Sept 25-30 to try to secure "a better deal" for developing countries in need of help from the IMF and the World Bank. He said South Africa would like to see more money put into the trust fund for the Highly Indebted Poor Countries. "There is too little money in there, we need a few dollars in that HIPC fund. I think we need some pressure," he said. ef/pav/jlw For more information and to contact AFX: www.afxnews.com and www.afxpress.com ¸ Copyright 1999, The Nasdaq Stock Market, Inc. All Rights Reserved. nasdaq.co.uk