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Bolivia ditches new gold-reporting rule within days to curb 'speculation'
The truth about the country's gold reserve might hurt economic stability
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By Sergio Mendoza
Bloomberg News
Friday, November 8, 2024
Bolivia's central bank ditched new rules on reporting its gold reserves it had published just two days earlier.
The bank said in a statement today that it wouldn't implement the resolution to avoid "speculation that seeks to damage the economic stability of the country."
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The resolution would have allowed the bank to report its gold holdings twice a year: on Nov. 5 and May 5. That could have allowed it to access more liquidity to pay for imports and address a crippling fuel shortage.
By law, the institution must keep at least 22 tons of the metal, but the change might have allowed it to drop below this level between the reporting dates. ...
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