Bolivia lifts central bank gold purchase mechanism and relaxes gold export restrictions

Bolivia is gradually phasing out a set of state-controlled gold trading mechanisms in hopes of attracting more US dollars into its financial system. The country will cease central bank gold purchases and relax private export restrictions on precious metals. According to new regulations promoted by President Arce, gold exporters will no longer need to obtain certificates issued by the central bank when shipping gold abroad. However, at least 80% of export revenues must be deposited into Bolivia's banking system. This reform marks the official end of the previous gold trading regime, which was fully regulated by the central bank for the past three years.