LatinNews Daily - 21 January 2026

*The president of Bolivia’s central bank (BCB), David Espinoza, has revealed that the bank has been saddled with major gold debts as a result of forward sales contracts agreed under former president Luis Arce (2020-2025). The BCB began purchasing gold from local miners in 2023 as the country’s international currency reserves appeared in danger of running out. Espinoza, who was appointed after centre-right President Rodrigo Paz took office in November, said yesterday that under Arce the BCB had been selling off its gold reserves to cover debt repayments and fuel imports, and revealed that it had received advance payment for these sales. He said that in four operations between April and October 2025, the BCB received advance payment of US$1.26bn in return for the agreed sale of 9.6 tonnes of gold, of which 3 tonnes have subsequently been delivered. As a result, he said, the BCB now needs to purchase a further 6.6 tonnes of gold, valued at US$921m, before October, so that it can deliver the gold for which it received advance payment. The BCB said in a statement yesterday that over 85% of the country’s international reserves are held in gold.

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