The BCRA’s balance sheet shows financial transactions regularly carried out to improve the return on reserves. These transactions include all assets held by the BCRA. They are audited internally and externally.
As for gold, the BCRA has the same position.
This is not the first time that an attempt has been made to convey the idea that the BCRA has divested its holdings in gold. It did not happen in the past, and it is not happening now. The IMF payments were made as reported, using CAF bridge loans and yuan.
Over the last few days, since the launch of the program for the promotion of exports, the BCRA has purchased USD1,053 million in the forex market. Therefore, it is absolutely unnecessary to use gold reserves, and they were not needed, either, to meet the National Government’s obligations.
August 3, 2023