The International Monetary Fund (IMF) board will meet this week [6 April] to discuss how to use the extra $2.8 billion windfall it made from selling 403.3 tons of gold late last year. The windfall profits should be used to cancel the debts of poor countries facing crises outside their control.
The international aid agency Oxfam today called for Pakistan’s $55bn debt to be dropped. Oxfam said that the debt must be cancelled because of the level of destruction caused by the recent unprecedented flooding and the massive costs of immediate relief and longer term reconstruction.