S. Africa SARB to Finish $5.5 Billion Transfer to Treasury Soon.

The South African Reserve Bank (SARB) will soon complete the transfer of 100 billion rand ($5.5 billion) of profits from the nation's gold and foreign-exchange reserves to the Treasury, according to Governor Lesetja Kganyago. This transfer is part of a plan announced by Finance Minister Enoch Godongwana to restructure reserves held at the central bank in order to reduce debt issuance. The country's Gold and Foreign Exchange Contingency Reserve Account (GFECRA) has shown significant paper profits, and the remaining funds will be used to protect against potential losses. [Extracted from the article]