Poland repatriates 100 tons of Gold from Bank of England storage
Poland brought about 100 tons of gold home from the Bank of England in a bid to demonstrate the strength of nation’s $586 billion economy, central bank Governor Adam Glapinski said.
The institution bought about 126 tons in 2018 and 2019 to increase its gold reserves to 228.6 tons. As a result, the country has become the 22nd-biggest bullion holder in the world and has the biggest reserves of the metal in the European Union’s east, the central bank said.
Glapinski said the central bank will keep bringing the precious metal home if the “reserve situation is favorable.”
“The gold symbolizes the strength of the country,” Glapinski told reporters on Monday. Poland could generate “multi-billion” profits if it sold its holdings but has no plans to do so, he said.
You may be interested
Greek Foreign Ministry presents demarche to Turkish ambassadorPanos - Jun 02, 2020
A demarche was presented to the Turkish ambassador at the Greek Foreign Affairs Ministry earlier on Monday, related to requests…
Mount Athos re-opens to pilgrims and visitorsPanos - Jun 02, 2020
The all-male monastic community of the Holy Mount Athos in Chalkidiki, Macedonia opened its gates for the first time after…
Greek FM Dendias: Turkey’s illegal actions do not produce legal effectsPanos - Jun 02, 2020
Foreign Affairs Minister Nikos Dendias on Monday stressed that Greece is ready to deal with Turkey’s latest challenge, if the…