Argentina’s Central Bank and auditors clash over gold reserves
The National Audit Office said the current management lost US$1 billion in 2025 on gold transactions. The monetary authority maintained that it made a net profit La entrada Argentina’s Central Bank and auditors clash over gold reserves se publicó primero en Buenos Aires Herald .
Argentina's National Audit Office (AGN) has questioned the management of the Central Bank of Argentina (BCRA) regarding gold reserves and financial statements. AGN auditors found that BCRA entered into dollar-settled derivatives transactions using part of its gold reserves as collateral, resulting in a loss of US$1 billion in 2025.
The agency criticized the bank for "speculating on a particular trajectory for international gold prices," as gold prices surged 64% to US$4,320 an ounce during the year. Despite AGN's findings, the BCRA maintains that the financial statements fairly present the Central Bank's position and results in accordance with its accounting framework.
The bank argues that the performance of derivatives must be assessed alongside the underlying asset they hedge, and that the transactions are part of a hedging policy covering 100% of its gold position. The Central Bank also accused the AGN's current leadership of seeking to discredit its management for political purposes.
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- Argentina’s Central Bank and auditors clash over gold reserves buenosairesherald.com
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