Forty-Three Tons of Gold Shore Up Crumbling Bolivian Reserves
- Gold makes up 42% of Bolivia’s foreign currency reserves
- Investors hope that Oct. 18 election will stabilize nation
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Bolivia’s long-term bet on gold is helping prop up its bonds, even as a delayed election stokes social unrest and the Covid-19 pandemic rips through the nation.
Bonds due in 2028 have risen 13 cents to 88.6 cents on the U.S. dollar from an April low, despite losses in the past week as supporters of ousted former President Evo Morales blocked roads across the country to demand fair elections.