Uzbekistan dropped its plans to buy U.S. securities

Uzbekistan has abandoned plans to buy U.S. securities. It is reported by Bloomberg, citing the words of the deputy chairman of the Central Bank of Uzbekistan Bekzod Hamraev.

Bekzod Hamraev noted that when Uzbekistan thought about investing in U.S. government bonds, the market did not allow it.

Uzbekistan planned to reduce the share of gold in its reserves to below 50% at the expense of buying sovereign debts of the United States and China.

The world's second-largest buyer of gold among central banks last quarter believes you can never have too much gold bullion. Uzbekistan bought precious metals and accounted for two-thirds of the country's gold reserves. The country's reserves total $32 billion.