Central bank governor Mugur Isarescu told reporters at a press briefing after the bank’s monetary policy meeting the board will discuss the matter and send a reasoned opinion to Parliament.
“I cannot speak in the name of the board but personally I would incline to agree with repatriation. The purpose of foreign exchange reserves, including the gold reserve, is to lend credibility,” said Isarescu.
The Senate adopted on Monday a bill initiated by the ruling Social Democrat Party (PSD) which would see Romania’s central bank repatriate most of the country’s gold reserves deposited outside the country. The bill seeks to force Romania’s central bank to repatriate 91.5% of the gold reserve deposited outside the country, amounting to more than 56 tons of gold.
The bill will be sent for the debate to the Chamber of Deputies.