Thursday, September 9, 2010

Central Banks start to borrow to buy Gold

From Belarus will borrow $2.2 billion from foreign lenders in 2011, DPA reported Sept. 7, citing Interfax. Minsk hopes to borrow $1 billion from China’s national bank; $119 million from the International Monetary Fund; and $1 billion from private investors through a bond offering, according to Belarusian Economics Minister Andrei Kharkovets. The money would go toward industrial infrastructure, the nation’s gold and foreign currency reserves, and better government cash flow, Kharkovets said.

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