Bolivian senate approves 'gold law' aimed at bolstering foreign reserves

$Gold bars and granules are pictured at the Austrian Gold and Silver Separating Plant \\'Oegussa\\' in Vienna October 23, 2012. REUTERS/Heinz-Peter Bader (AUSTRIA - Tags: BUSINESS) - RTR39H35 , Reuters Images$

Gold bars and granules are pictured at the Austrian Gold and Silver Separating Plant 'Oegussa' in Vienna October 23, 2012. REUTERS/Heinz-Peter Bader (AUSTRIA - Tags: BUSINESS) - RTR39H35
Reuters Images

The law, which allows the central bank to monetize its gold reserves, will now be sent to President Luis Arce to sign it into law within 10 days

Daniel Ramos, Reuters News

May 5, 2023

PHOTO
Gold bars and granules are pictured at the Austrian Gold and Silver Separating Plant 'Oegussa' in Vienna October 23, 2012. REUTERS/Heinz-Peter Bader (AUSTRIA - Tags: BUSINESS) - RTR39H35

Bolivia's senate early on Friday morning gave final approval to a so-called "gold law" aimed at strengthening the country's foreign currency reserves.

The law, which allows the central bank to monetize its gold reserves, will now be sent to President Luis Arce to sign it into law within 10 days.

(Reporting by Daniel Ramos; Writing by Brendan O'Boyle; Editing by Christian Schmollinger)

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