Bolivia congress instructed the central bank to disclose its FX transactions after the approval of a bill to monetize gold reserves. Deputies president Mercado announced in a webcast press conference that the bank would be required to report reserve operations every four months and ensure the minimum amount of “strategic reserves.” According to the bank’s report, 98.7% of its 43.05 tons of gold reserves are deposited in financial institutions overseas, with the remainder in its vaults. To defend its currency peg with USD, the bank has nearly depleted its cash reserves and converted its SDR from the IMF. However, it still holds almost USD 3 bln worth of gold, which could provide the country with some leeway.