Belgium eyes central bank gold profit for pensions

Belgium's government plans to use profits from the past transfer of gold from its central bank to the European Central Bank to start a state pension fund it had hoped to fill with proceeds from the sale of mobile telephone licences, Belgian media reported on Feb 15, 2001. A spokeswoman for the National Bank of Belgium, which at the end of 1998 contributed 27.1 tonnes of gold to the ECB's foreign exchange reserves, confirmed the transfer to the government's so-called "Silver Fund" had been agr

To continue reading...