SOFAZ declares reason of Azerbaijan’s absence in World Gold Council’s report

# 16:20
6 August 2019

The SOFAZ has commented Azerbaijan’s absence in the World Gold Council’s report on the official gold reserves statistics of the world countries, which has been updated on August 1, the SOFAZ told APA-Economics.

The mentioned body get information on the gold reserves of the countries from International Monetary Fund (IMF) and the reports involves gold reserves in balances of monetary and fiscal bodies, such as the Ministry of Finance and Central banks. That is why gold investments of the State Oil Fund have not been reflected in the report of the body, covering a quarter.

“We want to note that the according to the SOFAZ’s Investment policy and requirements of Investment regulations, amount of the gold reserves, including SOFAZ’s investment portfolio was 95.47 tones (3 069 414.783 troy ounce or USD 4 356.4 million) on June 30, 2019. Information on the gold investments, included in the SOFAZ’s investment portfolio, is regularly declared to public through quarterly and annual reports of the Fund.