Kosovo, the only country in the region without gold reserves

The institutions do not indicate whether they have any plans for the Central Bank of Kosovo to deposit such reserves. Economics professors show that the price of gold rises whenever there is a global economic crisis and that in such situations reserves serve to maintain financial stability

Gold reserves are needed in times of crisis to manage difficult financial situations, say university professors of economics.

However, Kosovo does not have a single gram of gold or any other precious metal as a reserve.

"At the moment, the Central Bank of the Republic of Kosovo does not hold international reserves in gold and other precious metals in its portfolio", said Kushtrim Ahmeti, spokesman of the CBK.

When talking about the importance of the gold reserve, economics professors show that its price increases whenever there is a global economic crisis and that in such situations the reserves serve to maintain financial stability.

"Usually the price of gold rises in periods of economic crises or political and military tensions, as is the case with the Ukrainian crisis. Meanwhile, in times of peace and the overcoming of the economic crisis, according to history, the price of gold begins to fall, because many countries sell gold or reduce the demand to buy gold", said Mejdi Bektashi, professor of economics at the University of Pristina.

"In crisis situations, it usually leads to fluctuations in the securities market and financial markets, and of course gold in times of crisis is always a commodity that once served as money", added Sejdi Rexhepi, also a professor of economics at the University of Pristina.

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He emphasizes that the Central Bank of Kosovo has not had any obstacles to buy any amount of gold.

"There is a provision that shows that the Central Bank can manage reserves, but it does not decisively determine how much these gold reserves should be," he said.

Planning for the purchase of quantities of precious metals is the responsibility of the Ministry of Finance, but this institution did not respond to TIME's questions regarding potential plans to secure such reserves.

Kosovo is the only country in the region that does not have gold reserves. This metal serves as a guarantee for obtaining international loans, as well as for the maintenance of financial stability.