Official data from the World Bank show that the Philippines has never had the highest amount of gold reserves since 1960. IMF data also show the country is only ranked 23rd. FactCheck
:"Total reserves " and"Total reserves minus gold." By subtracting the amounts in the second series from the first, World Bank's data showed that the amount of gold in the Philippines is way below the total amount of gold reserves in the US , the top country listed by the IMF.
The data from the World Bank also showed that among the top 5 countries listed by the IMF, the US has consistently placed first in terms of the amount of gold reserves since 1960. The Philippines is noticeably far behind the top 5 countries mentioned by the IMF. It is also impossible to own over a million metric tons of gold because the total gold mined throughout history is only at aboutwas also previously debunked by Rappler in February 2019.Keep us aware of suspicious Facebook pages, groups, accounts, websites, articles, or photos in your network by contacting us at [email protected]. Let us battle disinformation one
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PH COVID-19 cases may hit a staggering 60,000 by end of July—expertsDespite the government’s claim that the country is “winning” the fight against COVID-19, experts projections showed that coronavirus infections in the Philippines may reach 60,000 by the end of July. | DJEsguerraINQ
Read more »
Cebu City looming as new COVID-19 epicenter – DILGMANILA, Philippines — Cebu City is “more likely” the new epicenter of coronavirus disease 2019 (COVID-19) cases in the country, the Department of the Interior and Local Government
Read more »
Galvez: Cebu City still needs ‘stringent’ restrictionsCEBU CITY, Philippines — While the public awaits the President&039;s announcement on the post-June 30 quarantine status of the country, Secretary Carlito Galvez, National Task Force chief
Read more »
Pending IATF approval, business travelers from Asian countries may be allowed to enter PHBusiness travelers, primarily from other neighboring Asian countries, may be allowed to enter the Philippines once quarantine restrictions have been eased, according to an official of the Department of Tourism (DOT).
Read more »
Filipinos now allowed to enter 26 countriesTwenty-six countries have so far lifted their border restrictions on Filipinos arriving from the Philippines, according to the Department of Foreign Affairs (DFA).
Read more »
US flexes naval muscle as Asean gets tough vs ChinaMANILA, Philippines—The United States flaunted its naval strength as countries of the Association of Southeast Asian Nations (Asean) took an unusually tough stance against Chinese aggression in
Read more »