In a historic turn that marks the end of the era of fiscal irresponsibility, the National Government has initiated the final phase to dismantle the mechanisms of theft that have sunk Argentina for nearly a century. President Javier Milei confirmed, in a revealing interview on the streaming channel Neura with Alejandro Fantino, that a comprehensive reform of the Organic Charter of the Central Bank of the Argentine Republic (BCRA) has been set in motion with a clear objective: to prohibit and criminalize monetary issuance aimed at financing the fiscal deficit.
This Tuesday became a milestone for economic freedom. Starting at 6:00 PM, the Head of State met at the Quinta de Olivos with his trusted team: the Minister of Economy, Luis "Toto" Caputo; the Minister of Deregulation and State Transformation, Federico Sturzenegger; and the head of the BCRA, Santiago Bausili. The purpose of the meeting was to refine the "unified version" of the reform that seeks, in the words of the president, to "repair 91 years of all the damage done to Argentines".
The core of the reform is the final battle against inflation. Javier Milei was blunt in labeling the monetary issuance to finance the Treasury as a scam and a counterfeiting of currency.
The new regulation will not only explicitly prohibit these practices but will also impose effective criminal sanctions on officials who violate the independence of the monetary authority. “The scam and counterfeiting of currency are criminal offenses. So we can even use parts of the existing Penal Code”, declared the President.
The reform aims to definitively erase the modifications imposed in 2012 by the administration of Mercedes Marcó del Pont, whom the president described as "brutal".
