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Argentina's central bank is sore that anyone might know what it's doing with gold
Argentina Ships Gold Bars Abroad to Be Financially Certified
By Ignacio Olivera Doll
Bloomberg News
via Yahoo News, Sunnyvale, California
Monday, September 2, 2024
Argentina's central bank sent part of its gold reserves abroad in recent weeks to be validated for financial use, a move that could give the country some much-needed flexibility, according to people with direct knowledge of the matter.
Once certified, the gold could be used as collateral to obtain financing, according to one of the people, who asked not to be identified discussing private information. Before the move, about half of Argentina’s gold was in domestic vaults with the other half in London, another person said.
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Officials from the central bank, known by its Spanish acronym BCRA, declined to comment on the matter.
The monetary authority separately confirmed today it had sent gold between its accounts, mentioning both ones in the country and others abroad. However, the bank didn't say how much of its nearly $5 billion in gold was shipped, for what reason, or where.
Bank officials also criticized what they called "irresponsible" reports about the gold going abroad, emphasizing that management of reserves has always been kept confidential. ...
... For the remainder of the report:
https://finance.yahoo.com/news/argentina-ships-gold-bars-abroad-215449489.html
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