Central Bank of Bolivia submits gold reserve operations report to the Plurinational Legislative Assembly and reports 22.3 tonnes held

The Central Bank of Bolivia submitted the Plurinational Legislative Assembly with its report on gold reserve operations for September–December 2025, as required under Article 9 of Law No. 1503 on gold purchases to strengthen international reserves. The report covers the composition of the country’s gold reserves and related purchases, refining, sales and financial transactions, and sets out structural changes introduced by the current administration, including a new framework for domestic gold purchases and export quotas and the removal of “forward gold sales with cash advances”, whose legality is being reviewed. As at 31 December 2025, gold reserves totalled 22.3 tonnes, with 18.8 tonnes deposited abroad. In 2025 the BCB bought 17.3 tonnes of gold in the domestic market and sold 17.9 tonnes for USD 2,028.3 million, while 16.4 tonnes were refined abroad into London Good Delivery-quality bars. The report also details the return of 0.93 tonnes sent for refining on 1 October 2025 and temporarily retained due to legal difficulties faced by the refiner, with the gold received back in BCB vaults on 30 December 2025; it adds that three forward-sale transactions entered into by the previous administration remain outstanding and mature on 15 June, 27 August and 9 October 2026, requiring purchases of 6.6 tonnes (about USD 921.2 million) to meet commitments through October 2026. The BCB also notes that more than 85% of international reserves are concentrated in gold and recommends reducing this concentration to preserve capital, reduce market-risk exposure and improve liquidity through greater diversification in line with international standards.