The Central Bank approved the financial statements for the 2024 fiscal year, which reflect, thanks to the work of the Government of Javier Milei, a significant improvement in its net worth. This improvement was accompanied by a 56% drop in the entity's liabilities, driven by the elimination of Leliq and a strengthening of international reserves.
During the past year, the entity achieved one of its main objectives: the recomposition of net worth. According to the BCRA itself, this result was the product of a prudent fiscal and monetary policy, which included the restriction of net financing to the Treasury and the suspension, since July 2024, of passive repo operations. In this context, the issuance related to remunerated liabilities was also eliminated.
The close of the 2024 fiscal year showed a profit of $19.4 trillion, which represents a notable improvement compared to the loss of $9.4 trillion recorded in 2023, the last year of the Kirchnerist administration of Alberto Fernández.
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This reversal is explained by several factors, including the increase in income derived from public securities, thanks to a better valuation of portfolio assets, and the decrease in interest payments as a result of the cancellation of remunerated liabilities. Additionally, it wasn't necessary to make accounting adjustments related to non-transferable letters, which also favored the final result.
