From ministry was told to agency Mina-business that golden reserves of Montenegro are around 38.48 thousand ounces of gold, and it’s value is changing on a daily basis depending on the price on international markets.
„National gold reserves are located in Credit Suisse bank in Switzerland, as a guarantee for the loan that government of Montenegro took from this financial institution in 2012. It is a loan of 150 million euros, out of which 30 million was guaranteed by the gold”, it was stated from the ministry.
Interest rate for this loan is 12 months Euribor plus margin of 6.5 percent, and the loan was used as a support for the budget.
Amount of 120 million is paid in four equal installments since last until year of 2017, while the other part of the loan, secured by gold, will be returned in 2017, when there will be a possibility of returning the gold. Arrangement was realized by emmission of bonds. At this occasion two bonds were issued, one at 30 million euros, and the other at 120 million euros.
