Argentina pockets $35bn windfall after accounting change

A little-noticed decision by policy makers late last year to change the way they value government bond holdings transformed the central bank’s balance sheet overnight, turning what had been a net worth of negative $2 billion into positive $33 billion. Officials have made little effort to explain the move — they just say it’s part of a wide-ranging emergency law to shore up the economy — but analysts note how it will pave the way for the bank to start turning over dividends to the cash-strapped government.

Source: Accounting Today