The Argentine judiciary has ruled that the Central Bank of the Republic Argentina (BCRA) must disclose details regarding the transfer of gold abroad. According to the Argentine News Agency, the V Chamber of the Federal Administrative Contentious Court issued a ruling on the Central Bank's movements with gold bars. Judges Guillermo Treacy and Pablo Gallegos Fedriano detailed that the Central Bank was required to explain 'point by point' the reasons for classifying each piece of data as a reserve. Previously, the entity, led by Santiago Bausili, had protected itself under Article 8 of Law 27.275 on the Right to Access Public Information, arguing that revealing data on the extraction of gold 'would put the security of the reserves and the country's financial stability at risk'. Now, the financial institution must decide whether to provide the documentation or technically substantiate the points that pose a danger to financial stability. A year ago, the union La Bancaria, led by Kirchnerist deputy Sergio Palazzo, had requested public access to information to investigate the departure of gold bars from the BCRA abroad. Palazzo stated that on June 7 of this year 'there was a departure' and on the 28th of the same month 'there was another'. Days later, Minister of Economy Luis Caputo responded to the uncertainty generated, clarifying that moving the gold abroad was 'a very positive measure' because it allows the country to obtain returns from that placement that could not be made in any other way. 'It's a very positive move, because today you have gold in the BCRA that is as if you had a real estate inside that you can't use for anything. If you have it outside, you can get returns,' the official indicated.
