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In pitch for new term, Poland's central bank chief seeks more gold in reserves
By Piotr Skolimowski
Bloomberg News
Monday, March 15, 2021
Poland's central bank wants to buy at least 100 tons of gold in the coming years to demonstrate the country's economic strength, Governor Adam Glapinski said.
Making a bid for a second term at the helm of the central bank, Glapinski today told government-friendly Sieci weekly that the amount of gold in reserves more than doubled to 229 tons under his watch. The new holdings will be stored in Poland, he said.
.... Dispatch continues below ....
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"This matters, among other things, for how the country is perceived," Glapinski, whose six-year term ends in June 2022, told Sieci.
Glapinski has consistently argued in favor of boosting gold holdings, saying in January that their share in the central bank's reserves should rise to 20% during his next term from 9% now.
The institution bought about 126 tons of bullion in 2018 and 2019. It also repatriated about 100 tons from Bank of England vaults. ...
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2021-03-15/gold-reserves-to-rise...
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