Day: May 8, 2019

BCB: 20% of international reserves are in gold and 55% in US dollars

The Central Bank of Bolivia (BCB) reported that 20% of the Net International Reserves (RIN) are in gold and 53% in US dollars. According to the institution, the reserves have been invested mostly in Europe (50%), followed by the United States, South Korea and China. “The stock of gold reserves reaches 42.9 tonnes, which represents 20% of international reserves and are invested in high-quality financial institutions,” said BCB’s senior economic policy advisor, Raúl Mendoza.

Bolivia and Argentina plan to explore oil in the Amazon basin

Bolivia and Argentina signed an agreement to allow oil exploration and exploitation in the Amazon region. Bolivia’s YPFB and Argentina’s YPF signed will work together the next two months to develop a plan and initiate the technical evaluation to allow the oil activity in the Madre de Dios basin in Bolivia’s Amazonian territory.