Bausili says Argentina’s gold is in Switzerland; AGN can’t audit transfer
The audit office said it could not verify the Central Bank head’s claim or find contracts for the gold’s placement abroad La entrada Bausili says Argentina’s gold is in Switzerland; AGN can’t audit transfer se publicó primero en Buenos Aires Herald .
The National Audit Office (AGN) has denied claims by Central Bank president Santiago Bausili that they audited the transfer of Argentina's gold reserves to Switzerland. During a Senate hearing, Bausili stated that part of the country's gold bars are stored in the vaults of the Bank for International Settlements (BIS) in Switzerland, comparing the transfer to replacing older US dollar bills with newer ones.
He explained that Argentina's gold bars, minted between the 1960s and 1990s, have varying quality and that their transfer was due to high demand in 2024 and the BCRA's desire to convert lower-grade gold into higher-purity gold. The AGN report, accessed by Ámbito Financiero, revealed that they were unable to audit the transfer, as placement contracts with the BIS or other foreign depositories do not exist.
When Bausili claimed the information was classified and restricted, Peronist Senator Juliana Di Tullio accused him of lying to the Senate and suggested that Argentine gold may still be in the Bank of England in London.
Written by urgent.news from Buenos Aires Herald's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- Bausili says Argentina’s gold is in Switzerland; AGN can’t audit transfer buenosairesherald.com
- Dubai vs Singapore vs Switzerland: Where should investors store physical gold? arabianbusiness.com
