Bolivia’s long-term commitment to gold is helping to shore up its bonds, even as the Covid-19 pandemic hits the country with more than 100,000 infected. Approximately 43 tons of gold held by the Central Bank have skyrocketed in value as the price of the precious metal has surpassed $2,000 per troy ounce. Bonds maturing in 2028 have risen from 13 cents to 88.6 cents. Bolivia is the country with the highest percentage of gold reserves (42%), surpassing Argentina with 8.7% and Paraguay with 5.6%.
Source: El Deber