It sounds like that's exactly what they are doing yeah.

Minister of Economy Luis Caputo acknowledged that the operation was indeed carried out. “It’s a very positive move… if you have gold in the BCRA, it’s as if you have [assets] inside that cannot be used for anything. If you have it outside the country, you can get returns,” he argued, in an interview with La Nación+, an Argentine TV channel. “It’s much better to have it guarded outside, where they pay you something,”... President Milei later hinted that the transfer of the gold is related to the possibility of using it as collateral to take out a bridge loan. The president said that Argentina already has sufficient U.S. dollars available to pay the maturity of interest on foreign debt — a payment of about $1.6 billion — which is due in January 2025. He claims that the bridge loan would be to pay an additional sum of $3 billion to foreign creditors.

The guy on the right is the Minister of Economy by the way, in case anyone else was as confused as me.