MMF DESCRIBES CBSI’S REPLY AS “HOLDING NO WATER”

But responding to the bank’s reply, MMF President Charles Dausabea told a media conference yesterday that the bank has to explain this thoroughly.

“When they replied and talk about transport costs, can the Central Bank tell us how much it has spent for transporting the gold to Hong Kong? The freight it is talking about, can the bank tell us? And for what purpose does it undertake such a huge freight to put the gold in Hong Kong? Only Hong Kong will benefit from the gold, despite paying commission to the country. So can the Central bank come out and tell us how much does it cost for sending the gold to Hong Kong while it’s good they’ve admitted there are 31 pieces of gold bar being invested. If that is the case then something is really wrong.”

The Malaita Masina Forum also called on the Central Bank to explain why it has decided not to strengthen the country’s currency by investing the 31 gold bars in Honiara.