Bolivian central bank to buy local gold
Government initiative aims to prevent smuggling
The Bolivian state mining company Comibol announced the country’s central bank had signed a three-year contract on May 19 to purchase gold from it.
The agreement came a day before the mining minister, Ramiro Villavicencio, announced that Bolivia will establish a “commercial gold business” tasked with absorbing tonnes of gold that is currently being illegally exported, news agency EFE reports. This body will “co-ordinate” with the Central Bank of Bolivia (BCB), Villavicencio said.
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