The Central Bank denied using its gold reserves to pay the IMF.

The Central Bank denied that gold from its reserves was used to meet debt maturities with the International Monetary Fund (IMF).” In the case of gold, the BCRA maintains the same position in that metal. The Central Bank did not part with gold in the past or this time, “said the entity in a statement published on Thursday, after a private consultant warned in a report for a fall in the asset in the international reserves of the BCRA. The BCRA’s balance sheet reflects usual financial operations to improve the profitability of reserves. These include all assets held by the BCRA and are audited internally and externally. In the case of gold, the BCRA maintains the same position in that metal….— BCRA (@BancoCentral_AR) August 3, 2023 The Argentine Government indicated that payments to the agency were made with bridge loans from CAF and yuan. Since the launch of the export promotion program, the BCRA has acquired US$1.053 billion in the foreign exchange market. This made it unnecessary to have to resort to gold reserves and did not need to do so to meet the commitments of the national government, “explained the institution chaired by Miguel Pesce.Argentina must face this Friday a debt maturity of 750 million dollars with the IMF. According to reports, the funds could come out of an agreement with Qatar, although the agreement has not yet been formalized.

Original source in Spanish