: :inin Kyiv (EET)

Ukraine freezes its gold sales

Because of the situation in Donbas and a dire economic situation, Ukraine suspended sales of its gold reserves, according to data published by the International Monetary Fund on Tuesday, Ukrainian weekly Dzerkalo Tyzhnia reports.
According to the IMF, Kyiv had sold about 16 tonnes of gold in October and November, but it kept its gold reserves at around 23.64 tonnes in December.
German Wirtschafts Woche magazine reported IMF data in its November edition, according to which Ukraine had sold more than a third of its gold and foreign currency reserves in October. At the end of the month (October), Ukraine had 26 tonnes of gold as before or 14 tonnes less than in September.
The Ukraine’s National Bank officials said sale of its third of gold reserves was associated with “optimizing the structure of international reserves” of Ukraine.

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