Bolivia Reserves Rise 8.7% to US$3.93 Billion on Gold
Bolivia's central bank says net reserves rose 8.7% to US$3.93 billion by 30 September, but gold now makes up 87% and liquid dollars fell. The post Bolivia Reserves Rise 8.7% to US$3.93 Billion on Gold appeared first on The Rio Times .
Bolivia's reserves grew by 8.7% in the third quarter to reach US$3.93 billion, primarily due to gold purchases, according to the Banco Central de Bolivia (BCB). The increase came from gold bought on the domestic market, totaling 4.1 tonnes, bringing the country's gold holdings to 25.3 tonnes, valued at US$3.38 billion. The report also noted that liquid reserves, mainly held in US Treasury bills, dropped by over a quarter, falling to US$474.2 million.
This decline was attributed to foreign debt payments, while the BCB stated that the drop in liquid dollars means debt payments still compete with fuel and import needs. The BCB currently holds 87% of its reserves in gold, a level it considers "not recommendable" due to the inability to quickly spend the asset.
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