By John Letzing
SAN FRANCISCO (MarketWatch) -- The International Monetary Fund said Monday it's selling 200 metric tons of gold to the Reserve Bank of India, to help shore up the fund's finances. The sale is part of a total of 403.3 metric tons of gold approved for sale in September, the IMF said. The sale will "help put the Fund's finances on a sound long-term footing and enable us to step up much-needed concessional lending to the poorest countries," IMF Managing Director Dominique Strauss-Kahn said in a statement. The sale, which is in the process of being settled, occurred over two weeks ending Oct. 30. According to published reports, the IMF is currently the third-largest official holder of gold, after the U.S. and Germany.
