Bolivia says it has six tons of gold as collateral in foreign banks | Metals Mine

  • Bolivia says it has six tons of gold as collateral in foreign banks

    From upi.com

    The new president of the Central Bank of Bolivia, David Espinoza, said six tons of the country's international gold reserves are used as collateral for debt in six foreign banks. Espinoza said most of Bolivia's gold is held in banks in Germany, the United Kingdom and the United States rather than in domestic vaults. Espinoza presented a detailed report Thursday on the state of the reserves in both foreign currency and gold. He warned that the fiscal policy applied during the administration of former President Luis Arce made heavy use of gold to finance liquidity. He said the Central Bank bought gold on the domestic ... (full story)

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