Argentina presented an affidavit on the BCRA gold and insists on the immunity of the reserves

As requested by the court, Argentina presented a declaration prepared by the Legal and Technical Secretary of the Ministry of Economy. This document records the information that this agency has on the location of the gold and the formal consultation made to Minister Luis Caputo.

Opinion was also sought from Ministry of Security and to the BCRA itself. The Central Bank reiterated that disseminating this information would compromise its operational independence, a position that was previously expressed before the court through written submissions.

The plaintiffs’ request dates back to January 21, when the funds that are litigating against the Argentine State for the expropriation of YPF requested that the exact location of the BCRA gold, its recent movements and the accounts in which it is deposited be revealed.

The request was framed in the cases “Petersen Energía Inversora” and “Eton Park Capital Management against the Argentine Republic”, in which the country was sentenced to pay US$16.1 billion. The funds maintain that the Argentine Government hinders access to key information to advance the execution of the ruling, including information regarding more than US$1 billion in gold reserves.

Specifically, they demanded that the State be forced to present an affidavit detailing where the gold is located, what accounts it is in, how it got there and, in addition, that an authorized official be made available to testify on the matter. If Argentina claimed that these data are inaccessible because they depend on the Central Bank, they then asked to summon officials with direct knowledge, including Caputo himself.

So far, Judge Preska has not issued a resolution or ordered a hearing on this point.

According to what appears in the file, the plaintiffs have been demanding this information since May 2024 through formal discovery requests, without receiving a response for more than a year and a half. They even pointed out that, despite the fact that Preska ordered in August 2025 that Argentina present a qualified witness, the country had failed to comply by sending an “unfit and unprepared” representative.

The Argentine defense, for its part, appealed the entire discovery process before the Second Circuit of New York and maintains a suspension request that is still under analysis by Preska. If that request is rejected, it will also be appealed. In parallel, the substantive appeal against the sentence for US$16.1 billion is still pending.