Organization:Poverty Reduction and Growth Facility

From HandWiki

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.[2][3] 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 1¼ billion yearly lending program to the targeted nations.[4]

References

  1. ↑ Shahwan, Najla (2 May 2022). "What's the goal of IMF's new fund for low-income countries?". Daily Sabah. https://www.dailysabah.com/opinion/op-ed/whats-the-goal-of-imfs-new-fund-for-low-income-countries. 
  2. ↑ "Profile: IMF and World Bank" (in en-GB). 2012-04-17. http://news.bbc.co.uk/2/hi/americas/country_profiles/3670465.stm. 
  3. ↑ "SAPs in Disguise: Modern IMF Programs Have Similar Negative Effects to their Criticized Predecessors | International Law and Policy Brief" (in en-US). https://studentbriefs.law.gwu.edu/ilpb/2022/04/19/saps-in-disguise-modern-imf-programs-have-similar-negative-effects-to-their-criticized-predecessors/. 
  4. ↑ International Monetary Fund. (16 March 2021). "Factsheet: Gold in the IMF". IMF website Retrieved 20 June 2021.



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