President Javier Milei reaffirmed the importance of the reform of the Central Bank's Organic Charter, stating that it is a central piece of the economic program of the Government.
During a radio interview, the president explained that the main objective of the initiative is to ensure monetary stability, reinforce the independence of the monetary authority, and definitively eliminate deficit financing through issuance.
In this context, the head of state was emphatic in defining the role that the organization should have: “The mandate is to preserve the value of the currency.”
From that, he detailed that the project establishes an explicit prohibition of assistance to the Treasury, both direct and indirect: “We must explicitly prohibit the financing of the Central Bank, whether directly or indirectly, to the Treasury.”
According to Milei, the reform represents a turning point in the relationship between politics and economics. In that line, he stated that the new regulation “ends 91 years of political abuse of the private sector through inflation,” while introducing structural changes in the functioning of the entity.
Among them, he mentioned institutional strengthening: “The reform includes strengthening the governance of the Central Bank so that removing its authorities is difficult.”
The project also incorporates modifications in the treatment of the organization's profits. In that sense, the President pointed out: “We are prohibiting the distribution of fictitious profits and establishing mechanisms to capitalize the Central Bank,” which seeks to consolidate its financial solidity and avoid practices that affected stability in the past.
