INSUBCONTINENT EXCLUSIVE:
bank says the new buys are nearly 30% of gold acquired in 12 years
The law paves the way for more gold purchases
It helps Bolivia meet debt payments and repay bonds from 2013.The law ensures smooth global payments and better liquidity
This is one of the lowest levels since 2014
(Photo Internet reproduction)Last May, President Arce enacted the new gold law
It allows direct purchases from local gold producers
The law also lets the bank trade gold globally.The bank must keep at least 22 tons of gold
It reports its gold activities to lawmakers every four months.Reserve levels are falling due to a cash crunch
The government says this is due to unusual currency demand.BackgroundForeign reserves have been a key issue for Bolivia for years
In 2014, the reserves peaked at over $15 billion
The new gold law is one such step
It aims to provide a stable asset that can be liquidated quickly.Gold is a globally recognized store of value
Countries often use gold to back their currency
The focus is on local gold producers, encouraging domestic industry
