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Nigeria is proposing to transfer a 10 percent stake in the national oil company to delta communities; citizens of the delta would then be entitled to cash benefits, delivered through a trust-type mechanism. Read about it here.
That would be a real live breakthrough on a good idea proposed in CGD papers for Iraq and Ghana.
On April 29, U.S. House of Representatives Democrat, Rep. Barney Frank, said that he supports authorization by the U.S. Congress of gold sales by the International Monetary Fund, on the condition that $4 billion of the proceeds go to poor countries. He also said that the U.S. Treasury backs his position. This is all good news regarding the IMF’s sale of 1/8th of its gold reserves, approximately 403 tons.