HC Deb 21 June 1999 vol 333 c312W
Dr. Cable

To ask the Chancellor of the Exchequer what discussions he has had with IMF officials concerning the sale of IMF gold stocks in order to finance debt relief; and if he will make a statement. [85720]

Ms Hewitt

The UK has taken the lead in calling for the sale of $1 billion-$2 billion (approximately 10 million ounces) of IMF gold to meet the costs of an enhanced HIPC initiative falling to the Fund and to deliver faster, wider, deeper debt reduction to the world's poorest countries.