The IMF is badly in need of cash to fund the basic facilities in the under developed countries across the globe. And it has not been able to get the extra funding from the developed countries, because these countries themselves are badly in need of cash to prop up their economies.
Now IMF has decided to sell 403 tons of gold in the international market to fetch around 13 billion US dollars of money, which can go to fund the very basic facilities in the under developed countries. India, Russia and China have evinced interest in buying the gold from the IMF instead of investing the money in the dangerous US treasuries.
Is Obama listening ?