Argentina’s Milei Unveils Bill to Shield Central Bank From Political Pressure
14 Articles
14 Articles
In a televised address, Mr. Milei defended his plan for the Central Bank (BCRA), a priority for the end of his term, as he increasingly openly discusses running for re-election in the October 2027 presidential election. According to him, the Bank's new "organic charter" aims to put an end to the "scam" of currency issuance, "theft by politicians (...) through the counterfeiting of currency to finance the state." Since inflation, he maintains, re…
The Argentine president presents a project that modifies the organizational charter of the Central Bank, an entity that defines as “a tool of theft of high politics”
The President will send Congress a package of initiatives to modify the Central Bank's Organic Charter, establish a permanent rule of fiscal balance and reform capital and insurance markets
In a national chain, the president of Argentina announced the sending of a bill where the issuing institute will have as its sole mission to “preserve the value of the currency”, in which state financing will be prohibited and the requirements to change the president of the Central Bank are increased. He also announced reforms to the capital market and a fiscal rule.
The Argentine president, Javier Milei, presented tonight in a pronunciation in national television network, a bill to reform the central bank, prohibiting it from financing government spending in the future. Milei's reform would also require two thirds of parliamentarians in both houses of Congress to vote in favour of the dismissal of the president of the BC, in an effort to strengthen their independence.
Argentina’s Milei unveils bill to shield central bank from political pressure
BUENOS AIRES, July 30 (Reuters) - Argentina's President Javier Milei on Thursday announced plans to reform the central bank's charter, a move aimed at strengthening the institution's independence and restricting its ability to finance government spen...
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