"This decision requires more detailed expert justification,” he added. “The Armenian government must specify which precious items will be auctioned."
Khachatryan stressed that Armenia does not have sufficient budgetary funds and other sources of funding to restore the share of gold in international reserves.
The Armenian Central Bank made a strategic decision in late 2003 to abandon the gold reserve in its external gross assets. The central bank explained that action by high liquidity in the gold market in those years.
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