Poverty_Reduction_and_Growth_Facility

Poverty Reduction and Growth Facility

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.[1] 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.[2]

References

  1. [1]
    Shahwan, Najla (2 May 2022). "What's the goal of IMF's new fund for low-income countries?". Daily Sabah. Archived from the original on 4 May 2022. Retrieved 18 January 2023.
  2. [2]
    International Monetary Fund. (16 March 2021). "Factsheet: Gold in the IMF". IMF website Retrieved 20 June 2021.
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