The IMF launches a financiaI rescue plan for itseIf
41．generating enough income to cover up its $1 billion budget．By 2010 its deficit will 42．be about $ 400m each a year．It has enough reserves to tide it over．But ultimately it 43．needs its own financial rescue plan．That is why，on April 7th，the fund's board have 44．agreed to cut costs and boost income．A quarter of the gap will be plugged 45．by cutting costs，which including 380 jobs(or 15%of the total)．The rest will come 46．from new income source&It wants to sell out 12.5%of its vast gold stocks， 47．which almounts to 403.3 tonnes．Using a(conservative)price to estimate of $ 850 48．an ounce，the fund reckons such a sale would raise about $ 11 billion．In order to 49．avoid upsetting the gold market，it would be done over the several years．The fund 50 also wants to broaden its investment of strategy．At present it may invest its reserves 51 not only in government bonds．In future．it hopes to boost returns by half a percentage 52 point every year by broadening its portfolio to include Corporate bonds and shares．