Gold Reserves
Since the outbreak of the Syrian civil war, it has been reported that Syria's gold reserves have been cut in half from the pre-civil war amount of around $17 billion, due to the Syrian government resorting to selling off its reserves as a way of coping with international sanctions. The Governor of the Central Bank of Syria Adib Mayalah has sought to deny these reports. This is similar to how the Syrian government is having to use up its foreign reserves to meet the demands of a budget deficit which has greatly increased to around $6.7 Billion USD.
Read more about this topic: Central Bank Of Syria
Famous quotes containing the words gold and/or reserves:
“Daughter to that good Earl, once President
Of England’s Council and her Treasury,
Who lived in both, unstain’d with gold or fee,
And left them both, more in himself content.
Till the sad breaking of that Parliament
Broke him, as that dishonest victory
At Chaeronea, fatal to liberty,
Kill’d with report that old man eloquent;—”
—John Milton (1608–1674)
“...I want to see a film, they send the Israeli army reserves to escort me! What kind of life is this?”
—Golda Meir (1898–1978)