Argentina’s central bank sent part of its gold reserves abroad in recent weeks to be validated for financial use, a move that could give the country some much-needed flexibility, according to people with direct knowledge of the matter.
Once certified, the gold could eventually be used as collateral to obtain financing, according to one of the people, who asked not to be identified discussing private information. Before the move, about half of Argentina’s gold was in domestic vaults with the other half in London, another person said.
Officials from the central bank, known by its Spanish acronym BCRA, declined to comment on the matter. The monetary authority separately confirmed Monday it had sent gold between its accounts, mentioning both ones in the country and others abroad. However, the bank didn’t say how much of its nearly $5 billion in gold was shipped, for what reason or to where.
