Bolivian central bank wants to become sole buyer of gold

Central Bank of Bolivia
Central Bank of Bolivia
Photo: Rachael King

The Central Bank of Bolivia (BCB) has proposed a law that would effectively make it the sole purchaser of gold produced within the country.

The central bank’s proposal would also allow it to use gold reserves as collateral or swap them for foreign currency, local newspaper El Deber has reported.

It would oblige domestic gold producers to sell their output to the central bank. Only once the BCB had filled its quota would miners and brokers be able to sell on the international market.

Under the

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