WINDHOEK, May 2 (Xinhua) -- Namibia's central bank said on Friday that it plans to start buying gold to strengthen the country's foreign exchange reserves and hedge against global economic shocks.
The Bank of Namibia (BoN) noted in a statement that the move will see gold making up 3 percent of Namibia's net foreign exchange reserves, aligning the country with global central banking trends to improve resilience amid inflationary and financial pressures.
