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Argentina Central Bank mandate and gold reserve scrutiny

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2026-09-14 01:21 UTC → 2026-09-14 22:24 UTC · added ~~removed~~

The Central Bank of the Argentine Republic (BCRA) is facing legislative scrutiny regarding its organic charter and the management of national gold reserves. Senator Adán Bahl has proposed reforming the bank’s mandate to include promoting maximum sustainable employment alongside price stability, similar to models used by the U.S. Federal Reserve. Concurrently, BCRA President Santiago Bausili has been called before the Senate to address the location and traceability of the country’s gold reserves. Bausili testified that the gold is held at the Bank for International Settlements (BIS) in Switzerland, arguing that international deposits allow the gold to function as a financial asset rather than remaining immobilized in physical vaults. These claims have met resistance from opposition legislators and the National Audit Office (AGN). Senator Florencia López and other officials have questioned the transparency of these transfers, with some alleging the gold may actually be located at the Bank of England in London. Senator Martín Soria further claimed that approximately 1,000 ingots were transported in four separate flights. The AGN has reported that its audit regarding the traceability of these transfers remains inconclusive due to delays by the Central Bank in providing required documentation. In response to the ongoing controversy, the Justicialist bloc, led by Senator Juliana di Tullio, has introduced a resolution to formally summon Bausili to provide detailed reports on transport dates, the companies involved, exact deposit locations, and the specific number of ingots moved.

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