Heritage of BCE declined in recent years

Diego Martinez

After six years, the assets of the Central Bank of Ecuador (BCE) lost $ 691.5 million; the company went from $ 1,591,5 in October 2006 to $ 900 million in February 2013. Diego Martinez, the president of the bank, revealed the latest figure on Wednesday.

The current amount of assets is not yet recorded in the official publication of the central balance, because the data is not fully updated. Martinez, the successor of Pedro Delgado, who resigned after admitting he lied about his degree, said that “the balance has been public, I was just cutting the monthly balance to October 2012. If someone tries to query the November or December 2012, or January 2013, a message indicating that the page is not available.”

According to the Monetary System Act states in Article 2 that “the Central Bank of Ecuador would disclose, at least weekly and that means it deems appropriate, the balances of the means provided in the article.” Until November 2008, the balance sheet and their systems are published weekly on the web.

According to the information of the entity’s equity was down for two reasons. The first was for the reduction to zero of AGD bonds (Deposit Insurance Agency), representing $ 1.013 billion in December 2008. The second was the transfer of these, Pacific Bank shares that were valued at $ 273.8 million to the National Finance Corporation (CFN) in January 2012.