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IMF gold sales timing unclear - Treasury's McCormick

Tue Feb 26, 2008 1:36am IST
 
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WASHINGTON (Reuters) - U.S. Treasury Under Secretary David McCormick said on Monday it was still unclear when the U.S. Congress would be asked to approve proposed International Monetary Fund gold sales and the move would depend on implementation of the IMF's reform agenda.

"We've done a fair amount of work already in terms of doing outreach to members of Congress," McCormick told an audience in Washington, saying there was already bipartisan support for the move.

"We would hope that we will be able to build support for action while President (George W.) Bush is still in office. If that turns out not to be the case given the timing then we hope the work we're doing will lay groundwork for the next president," he added.

Russian Finance Minister Alexey Kudrin poses with his G20 colleagues and central bank leaders during the family photo at the G20 Finance Ministers meeting at a hotel in St. Andrews, Scotland. REUTERS/POOL New
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