Bolivia eases gold export controls while halting central bank gold purchases

Bolivia is phasing out a state-controlled gold trading system in an attempt to attract more dollars into its financial system, ending central bank gold purchases and easing restrictions on private exports of the precious metal. Under new rules backed by President Paz, exporters will no longer need a central bank certificate to ship gold abroad, but at least 80% of export revenue must flow into Bolivia's banking system. The reform ends a three-year-old system overseen by the central bank.