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Argentina transfers balance of payments responsibility to central bank

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Argentina transfers balance of payments responsibility to central bank

Argentina's government has transferred responsibility for compiling the country's balance of payments statistics to the central bank, Banco Central de la República Argentina, from national statistics agency INDEC's office of international accounts.

Argentina's recent decision to eliminate exchange rate controls and move to a floating exchange rate system means the balance of payments depends "essentially on the monetary policy of the central bank," the government said in a decree published Jan. 19.

As a result, the central bank should be the entity responsible for estimates and projections related to the balance of payments, the government added.

From now on, the central bank will be responsible for compiling data and preparing reports on the balance of payments and international investment positions, among other reports.