IS THE LITHUANIAN GOLD SAFE IN LONDON? DURING HIS WORKING VISIT TO LONDON THE MINISTER OF FINANCE OF LITHUANIA VISITED THE VAULTS AT THE BANK OF ENGLAND
On 19 September the Minister of Finance of Lithuania Rimantas Šadžius during his working visit in London visited the Bank of England where he viewed the gold of the Republic of Lithuania. According to the Bank of Lithuania, there are 2 946, 9 kg of Lithuania's gold being stored in London.
Before the Soviet occupation in 1940, the Bank of Lithuania had kept 9 593, 4 kg of gold in five foreign countries. In 1992 after the independence of Lithuania was re-established France and the United Kingdom gave back all the Lithuanian gold - 2 246, 5 kg and 2 946, 9 kg respectively. The Bank for International Settlements took over 62, 2 kg of gold in order to balance out the loss incurred because of its frozen account in the Bank of Lithuania. Other part of the gold (569, 8 kg) was redeemed in 1992 from the Bank of International Settlements and was shipped to be saved in the Bank of England where now all the regained gold is being kept. In 1992 the Government of Sweden paid Lithuania 21, 1 million German Marks to compensate for the gold saved in its central bank until the Second World War. After the Second World War the gold that was saved in the US Federal Bank was used to pay the expenses of the Lithuanian diplomatic service in exile.
