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0 Boutros-Ghali, head of the IMF’s Fund’s policy-steering committee says IMF not properly resourced

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Youssef Boutros-Ghali who said that the IMF is essentially insolvent in its current form of being the go to backstop for a European bailout. "If we are going to start including funds made available to Europe, then the IMF is not properly resourced," Youssef Boutros-Ghali told Reuters, adding that IMF members were talking of doubling the amount of SDRs. The means the IMF is $318 billion short of solvency. And what is the IMF long? Why gold...3,005 tonnes worth. Zero Hedge.

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