Tanzania's president orders central bank to create gold reserve

Section:

From Agence France-Presse
via The East African, Nairobi, Kenya
Wednesday, January 9, 2019

Tanzanian President John Magufuli today ordered the central bank to create a gold reserve, as he urged the government to better control mineral exports from the country, Africa's fourth largest gold producer.

... Dispatch continues below ...



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"We should start buying gold," Magufuli said at a ceremony in Dar Es Salaam. "The central bank must invest in this. We must have our reserves in dollars but also our reserves in gold, because gold is money."

Magufuli is intent on regulating his country's mining sector, which has faced allegations of fraud and underreporting of production and profits, and has locked horns with foreign mining companies. ...

... For the remainder of the report:

https://www.theeastafrican.co.ke/business/Tanzania-john-magufuli-orders-...

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