There is also a small quantity of gold. The reserves are invested in deposits and securities and are managed by reference to an independent benchmark. The Central Bank has a very good record in managing large-scale funds. In respect of 1998 we earned a surplus of 225 million euro £ million), mainly from investment of reserves and interest.
It was something unique to have – regularly sitting around the same table – the Governor of the Central Bank of Israel and the Governor of the Palestinian Monetary Authority sharing views, in an open and candid manner, on the challenges that they were facing, together with their European counterparts. Tommaso’s intellectual curiosity was not constrained by borders, on the contrary.