Serbia adds 7 tonnes of gold reserves since 2012 – c-bank governor

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Published : May 24th, 2019
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SeeNews/Radomir Ralev/5-22-2019

“According to media reports, Serbia’s president Aleksandar Vucic has recommended to Tabakovic and finance minister Sinisa Mali to increase the country’s gold reserves to 30 tonnes in 2019 and 40 tonnes in 2020. Vucic has discussed the potential acquisition of gold with representatives of the International Monetary Fund (IMF) who supported the idea, Vecernje Novosti daily reported on Tuesday.”

USAGOLD note:  The central bank notes that the gold acquisition is to enhance the country’s financial stability.  Though small by global standards, this purchase places Serbia among the ranks of nation states and central banks diversifying their reserves with gold. It is interesting to note that the IMF supported the idea.

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