Bolivia is overhauling its gold export regulations to encourage private gold shipments and attract more dollars into the country’s banks. The reform, supported by President Rodrigo Paz, replaces a three-year-old system controlled by the central bank. Under the new framework, exporters must ensure that at least 80% of their earnings are deposited with domestic financial institutions.
The change eliminates the requirement for exporters to obtain certificates from the central bank before shipping gold. The aim is to simplify the process and boost private gold exports, which are expected to increase dollar inflows into local banks.
The reform has been designed to make the gold export process more efficient while ensuring that the proceeds benefit Bolivia’s financial system. The new rules are part of broader efforts to stabilize the economy and enhance foreign exchange reserves.