IMF denies selling or leasing gold this year

Section:

6:45p ET Thursday, October 30, 3008

Dear Friend of GATA and Gold:

In response to an inquiry from GATA, the International Monetary Fund today told the office of U.S. Rep. John B. Larson, D-Connecticut, that it has not sold, leased, or lent gold this year and, indeed, has not done so since 1999.

The IMF referred Larson's office to three documents for further information.

1) IMF Gold Sales -- Frequently Asked Questions:

http://www.imf.org/External/NP/EXR/faq/goldfaqs.htm#q2

2) Gold in the IMF:

http://www.imf.org/external/np/exr/facts/gold.htm

3) A press release from May, "IMF Board of Governors Approves Key Element of IMF's New Income Model":

http://www.imf.org/external/np/sec/pr/2008/pr08101.htm

Given its correspondence with the IMF's press office back in April (http://www.gata.org/node/6242), GATA remains skeptical that the IMF has any gold at all, skeptical that the IMF's gold is much more than a tenuous claim on the gold reserves of some of its members. But at least as of today the IMF denies having sold or lent gold lately.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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