May 22 (SeeNews) - Serbia's gold reserves currently amount to 20.8 tonnes, having increased by about seven tonnes since 2012, central bank governor Jorgovanka Tabakovic has said.
"We will enhance the financial stability of Serbia by modifying the structure of the currency reserves which are at a historically high level of about 11.5 billion euro," Tabakovic said in a video file posted on the website of news agency Tanjug on Tuesday.
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.
"The central bank is the fiscal agent of the Republic of Serbia and it is normal that in such crisis times it steps up the acquisition of gold and such advice from the Serbian president is welcome," Tabakovic said in the video file.
Last month, the World Gold Council said Serbia was the only country in Southeast Europe that has expanded its gold reserves in the first nine months of last year, to 20.4 tonnes in September 2018 from 19.5 tonnes in January 2018.