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December Gold News 2019


Ecuador joins growing list to add to central bank gold reserves

Ecuador joins growing list to add to central bank gold reserves

Ecuador’s central bank, Banco Central del Ecuador, has announced that it has recently added to the nation’s gold reserves as part of the state’s holdings, taking its total holdings up to $1 billion.

The process has been going on since 2016 and will run until 2026 as part of state loan repayments to the central bank from the Ministry of Finance, with the bank pushing to diversify its holdings to better protect Ecuador against financial crisis.

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