Business, Development, Finance, FMLN, Nation

Nayib Bukele Secures Future by Increasing Gold Reserves Previously Sold Off by leftist FMLN government.

El Salvador has taken a decisive step to rebuild its financial strength by purchasing nearly 14,000 troy ounces of gold for $50 million. The Central Reserve Bank (BCR) confirmed the acquisition of 13,999 ounces, raising the nation’s holdings from 44,106 to 58,105 ounces, now valued at approximately $207.4 million.

This move is part of a strategy to recover the gold reserves sold by the FMLN government in 2015, when the transaction generated $200 million for the country. Today, the same amount of gold is worth about $600 million, underscoring the long-term value of the asset.

The BCR emphasized that the purchase strengthens the nation’s international reserves for the first time since 1990 and helps diversify the portfolio. Gold accounts for around 20 percent of central bank reserves globally, second only to the U.S. dollar.

According to the institution, the acquisition aims to protect the economy from international market fluctuations, reinforce financial stability, boost investor and citizen confidence, and secure a safer reserve composition. “This decision reflects the commitment to maintaining a strong financial system with diversified reserves that safeguard the country’s future,” the BCR stated.

The operation was made possible by the bank’s stronger equity position in recent years, within the stability framework promoted by President Nayib Bukele’s government.