The Government of Tanzania has assured citizens that no gold held in the country’s reserves at the Bank of Tanzania (Bank of Tanzania) has been sold, dismissing rumours that had been circulating in the public.
The clarification was made in Parliament today by Prime Minister Dr. Mwigulu Nchemba (Mwigulu Nchemba) while responding to questions from Members of Parliament.
The issue came up after Tarime Urban MP Esther Matiko (Esther Matiko) asked the government to explain reports circulating in communities suggesting that part of the national gold reserves might have been sold.
Responding clearly, the Prime Minister said the reports are not true. He stressed that all gold reserves remain safe and fully intact under the custody of the central bank.
He explained that at some point, there were internal considerations about possibly selling part of the reserves when global prices looked favorable.
However, before any decision was taken, gold prices dropped, making it unwise to proceed with a sale. As a result, the plan was dropped and no gold was sold.
The Prime Minister compared this to how central banks manage financial reserves, including foreign currency, where decisions are sometimes guided by global market conditions to protect national interests.
He assured citizens that the country’s gold reserves remain a key national asset and are being managed carefully to support economic stability.
The government has urged the public to ignore misinformation and rely on official communications when it comes to matters affecting national resources.
The Bank of Tanzania continues to oversee and safeguard the country’s gold reserves as part of its responsibility to protect Tanzania’s financial strength and stability.
