AMLO is running out of the remaining bank

The The Bank of Mexico (Banxico) didn’t have it The rest of the process To be delivered to the Federal Government, due to the increase in the exchange rate during 2020.

This was announced by the Central Bank this morning, when it disclosed its audited financial statements by an external auditor, corresponding to the year 2020.

A year ago, President of Mexico, Andres Manuel Lopez Obrador, there was Advance request Of profits in the Central Institute’s autonomous balance of operations since April 1994, which is in accordance with the Federal Budget and Fiscal Responsibility Act, Residue conversion, Must be used to Reduce debt And improve the financial position of the public sector.

Banxico stated that the result of its operations during the past year was 165 thousand 17 million pesos, of which 121 thousand 775 million pesos are allocated to amortizing the accumulated losses from previous years, as stipulated in Article 68 of the Bank of Mexico Law. .

Likewise, in compliance with the provisions of Article 53 of the Banking Law, the Central Bank Board of Directors has allocated the remaining amount of 43.242 million pesos to increase the capital reserves.

Thus, the aforementioned reserves, as of December 31, 2020, amounted to 43750 million pesos, while shareholders’ equity, which includes the capital and the share capital reserve, amounted to 53 thousand and 361 million pesos, which represents only 0.23% of Gross Domestic Production (PIB) for the year 2020.

He explained that this figure is less than 0.58% of the GDP, which is equal to the rights of the shareholders at the end of 1994, which is the first year subject to the Law of the Bank of Mexico and used as a reference to the above-mentioned Article 53 of the said law.

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He explained that the large fluctuations in the exchange rate in 2020 caused related changes in results and capital reserves that were reported monthly throughout the year as part of Banco de México’s shareholders’ equity.

Capital reserves have reached their highest level in the year at Financial Statements As of April 30th, when the FIX exchange rate is for The national currency against the dollar Its value was 23.9283 pesos and capital reserves were 918 thousand and 279 million pesos.

However, at the end of the year, the base exchange rate recorded a noticeable rise in relation to the extreme levels, reaching 19,9087 as of December 31.

This reduced the value in national currency of the international assets on the balance sheet of Banco de México, as well as a wide range of liabilities denominated in foreign currency, in both the public and private sectors.

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