[stop-imf] Statement from President of Guyana in Favor of Gold Sales

[Robert Weissman]

From: Neil Watkins <neil@jubileeusa.org>

President Bharrat Jagdeo of Guyana today added his voice to a growing list
of developing country gold exporters including Tanzanian President Benjamin
Mkapa, South African Finance Minister Trevor Manuel, and HIPC Finance
Ministers in support of sale of IMF gold for debt cancellation.

GUYANA IN FAVOUR OF SALE OF IMF GOLD TO FUND MULTILATERAL DEBT RELIEF

Georgetown, June 2, 2005

President Bharrat Jagdeo of Guyana today added his voice to the growing
consensus in favour of the sale of IMF Gold to fund multilateral debt
relief. As an exporter of gold, Guyana's position is particularly important.

According to President Jagdeo: "Since 2000, developing countries across the
world have been striving to meet the Millennium Development Goals, and halve
global poverty by 2015. This is the defining challenge of our generation,
and all of us must do whatever we can to meet it. I welcome the findings of
the IMF staff, who have presented sensible proposals for the managed sale of
IMF gold to fund debt relief. I now hope that the Board of the IMF will
progress these proposals in an open and transparent manner. I also hope that
the leaders of the G8 countries ensure that this happens expeditiously, and
that specific actions will be agreed when they meet in Scotland in July.

As an exporter of gold, Guyana is confident that the properly managed sale
of gold will not negatively impact the global price of gold. Instead, it
will enable countries such as ours to redouble efforts to pursue pro-growth,
pro-jobs, anti-poverty development agendae to the benefit of our peoples.
Moreover, it will help us reach the day when we no longer depend on external
assistance to build secure and prosperous nations."





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