DAR ES SALAAM, Jan. 30 -- THE Bank of Tanzania (BoT) has confirmed plans to sell part of the countrys national gold reserves, dismissing claims that the move is intended to finance government development projects.

The central bank clarified that the decision is purely aimed at balance sheet management and enhancing liquidity.

The clarification comes amid widespread reports circulating on social media and in sections of the local media alleging that the government, through BoT, plans to sell gold worth about 1.3 billion US dollars to fund development initiatives, including road construction.

Speaking to journalists in Dar es Salaam yesterday, the Bank of Tanzania (BoT) Director of Financial Markets, Mr Emmanuel Akaro, described the repo...