The Central Bank (BCRA) announced an application for an application for his financial statements of 2024 and showed that he would transfer part of the profit received last year at least 11.7 billion dollars. USA, a little over 10,000 million dollars. USA. This is an important solution, since the monetary regulator had a policy not to visit treasures since the arrival of Havier Miley in the government.
“The remaining amount of results for 11.7 billion US dollars is granted to the national government, as dictated in Article 38 of the organic Charter,” the statement said. This is part of the profit from the accounting, which he received last year, which, according to the balance sheet details, reached $ 19,441,541,612 ($ 19.4 billion).
They indicated that “the board of directors decided to restore capital levels and the reserves of net assets before the loss of exercises of 2023”, all 7.7 billion are allocated for this goal, and the rest is what will be transferred to treasures.
The government confirmed the operation
“The funds provided by the National Government will be deposited in the treasury account on BCRA, with a neutral monetary effect and will have as an exceptional destination as possible cancellation of the debt of treasures,” said the Minister of Finance Pablo Quirno through the social network X.
Santiago Bausili again leaves the salvation of Luis Caputo, and thus, the government leaves aside its position of the unexpressed environment for treasure on the part of the monetary regulator, who assured that he was going to preserve in an effort – in the opinion, indicated – the defender of the Bcra balance.
“This is a surprise and, in principle, negatively, because it opens a crane, which, as we think, it was completely closed,” said El Cronista, chronicle Nicholas Gadano. This attracts the attention of analysts. “It is amazing that the organization, which, according to the government, is completely broken, transfers utilities into the treasure,” he says. This applies to the fact that the subject has negative reserves for $ 7,000 in 5,000 million US dollars (they do not include special duties of Jiro, Degs from the IMF).
Santiago Baushei is visited by Luis Kaputo.
Gadano explains that at first this decision will not have any money effect, because they will on the account that the treasury has in BCRA, but the government explained that this money can use it to cancel the debt, so in a certain period of time it may change.
A play that the IMF does not want
Another amazing element is that the agreement with the International Monetary Fund (IMF) specifically prohibits BCRA assistance in the Treasury. “I do not know how this decision justifies the government. They are likely to do this because they need sand, and since the throw of debts is low, they want to show that they have fire fighting opportunities to continue paying for the debt, ”says Sebastian Meneskaldi, economist Eco Go.
Remember that the government should pay the public sector about 45 billion US dollars in July, and since they want to use the IMF silver to benefit from BCRA, they did not have the means to cancel these maturity. “Thus, this play has two functions: on the one hand, buy dollars to pay the debt in July, and on the other, to introduce liquidity to the market in Peso,” Meneskaldi explains.
The paradoxical is that this is not in the sense of BCRA capitalization, which is the goal that the government has decreased within a few months. But it will be necessary to see how this decision explains and how they justify it within the framework of an agreement with the International Monetary Fund ahead.