PMC Research Centre published a report on Georgian Economic Climate. According to the document, most economists disapprov NBG's decision to purchase 7 tons of gold.
"On this development, the surveyed economists had divided opinions, with 58% disapproving and 42% approving", the document reads.
In accordance with the decision of the NBG Board on March 1, 2024, the National Bank of Georgia purchased 7 tons of the highest quality (999.9) monetary gold. The purchase, worth 500 million US dollars, was made in the form of bars of international standards in the London gold bar market and is currently stored in London. As of today, the volume of purchased gold amounts to approximately 11% of the NBG's international reserves.
