Milei Wants to Rewrite What Argentina’s Central Bank Is For. The Vote Is Wednesday
Argentina · ECONOMY Key Facts —The vote The Chamber of Deputies is scheduled to take up the reform of the central bank’s charter on Wednesday 26 August — if the governing bloc can assemble a quorum, which as of 20 August it had not. —How it got there A majority committee report was signed on […] The post Milei Wants to Rewrite What Argentina’s Central Bank Is For. The Vote Is Wednesday appeared…
The Argentina central bank reform is set to come up for a vote in the Chamber of Deputies on Wednesday, August 26th. This reform, spearheaded by President Javier Milei, would rewrite the bank's charter to give it a single objective: preserving the value of the national currency or maintaining price stability. This would eliminate the bank's current dual mandate of pursuing monetary stability alongside employment and development.
Additionally, the reform would prohibit the bank from financing the Treasury, dismantle non-transferable Treasury notes, and tighten rules for removing bank authorities, requiring a presidential decree and a two-thirds majority in both chambers. The opposition to this bill is primarily technical, with a PxQ report raising concerns about a potential loophole that could allow the bank to raise dollars on international markets.
Moody's has stated that Argentina's fiscal adjustment is likely to continue regardless of the outcome of the 2027 elections, suggesting that the reforms would likely remain in place under a second Milei term or a successor government.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
