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On April 23, 24, and 25th, the IMF and World Bank will discuss a proposal to sell one-eighth of the IMF’s vast gold reserves. The IMF wants to keep most of that money for itself. Jubilee thinks that all of the money from gold sales should be used debt relief and grants to help the world’s most impoverished countries weather the current economic crisis and so countries don't fall back into another debt crisis.
The World Bank estimates that an additional 53 million people will be forced to live on less than $1 per day as a result of the global economic downturn. Most of these people live in impoverished countries that had nothing to do with creating the crisis, but are disproportionately suffering its effects.
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