Bolivia’s Gold Bill Comes Due | La factura del oro de Bolivia

By Brujula Digital:

BCB: $921 million needed to cover advance gold sale carried out under Arce’s administration

“We have been left with that inheritance that all Bolivians will have to pay for in this 2026 term,” explained the president of the BCB.

The president of the Central Bank of Bolivia (BCB), David Espinoza, speaks to the media today. Photo: APG.

The president of the Central Bank of Bolivia (BCB), David Espinoza, reported that, due to an advance sale of gold carried out by the previous government administration, the State will have to acquire 6.6 tons of the metal for an amount of 921 million dollars in order to fulfill commitments that were assumed.

“We have as an inheritance for our administration the purchase of 6.6 tons of gold by October. For how much? For the equivalent of 921 million dollars (…) They have left us that inheritance that all Bolivians have to pay for in this 2026 term,” the authority explained to the media.

Espinoza pointed out that the advance sale of gold, known as a forward sale, was used by the previous administration to obtain cash foreign currency, with the commitment to later deliver the metal.

“They sold our gold in advance to obtain dollars, all those dollars they obtained during these dates, and with those dollars, obviously, use them for the requirements they had, for the import of fuel.”

The amount corresponds to three advance-sale operations of 4.3 tons, 1.1 tons, and 1.2 tons.

The president of the BCB also reported that Bolivia closed fiscal year 2025 with 3.713 billion dollars in Net International Reserves, of which 85% corresponds to gold, equivalent to 22.3 tons.

BD/JA

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