Javier Milei will present the reform of the Central Bank's Organic Charter on national television

President Javier Milei will lead a national broadcast next Thursday to present one of the most important institutional projects of his administration: the reform of the Organic Charter of the Central Bank of the Argentine Republic (BCRA). The initiative aims to consolidate the government's economic program through structural changes intended to strengthen the independence of the monetary authority and definitively prohibit financing the Treasury through monetary issuance.

According to official sources, the presidential message will be broadcast between 8 PM and 9 PM, although the exact time will be confirmed by the presidential spokesperson, Adrián Ravier, during his press conference at the Casa Rosada.

A reform to safeguard monetary stability

The government believes that modifying the Organic Charter represents one of the most significant reforms of the Milei administration, along with the package of economic initiatives that will soon be sent to Congress.

The main objective of the project will be to redefine the mission of the Central Bank so that its essential function is to preserve the value of the currency, moving away from the current framework established by the 2012 reform, which included objectives related to employment, economic development, and financial stability.

From the Casa Rosada, they argue that a monetary authority focused solely on maintaining the stability of the peso is an indispensable condition to prevent the return of inflationary processes that have affected the country for decades.

It will be prohibited by law to finance the Treasury with issuance

One of the central points of the initiative will be to establish an express prohibition for the Central Bank to finance the National Treasury through monetary issuance.

For Milei, using the Central Bank as a source of financing for public spending was one of the main causes of the chronic inflation that Argentina suffered. For this reason, the government intends for this practice to be legally banned for any future administration.

The reform seeks to institutionalize the principle of monetary discipline that the ruling party considers fundamental to consolidate the macroeconomic stability achieved during the current administration.

Greater independence for Central Bank authorities

Another focus of the project aims to strengthen the institutional independence of the entity.

The initiative will significantly tighten the conditions necessary to remove the president and directors of the Central Bank. According to reports, authorities can only be removed for specific causes provided for in the law, reducing political discretion over the management of the agency.

The government believes that ensuring stable mandates will allow for the development of long-term monetary policies without depending on changes in administration.

A structural reform that will reach Congress

The modification of the Organic Charter is part of the package of economic reforms that the Executive plans to send to Parliament in the coming weeks.

In addition to the changes in the Central Bank, the government will promote projects related to the capital market, the tax innocence regime, the insurance system, and new fiscal discipline rules.

From the Casa Rosada, they maintain that the national broadcast will allow for a direct explanation to the public about the scope of a highly technical reform, which they consider key to consolidating an institutional framework that guarantees monetary stability, economic predictability, and confidence for investments.

Once the presidential presentation is concluded, the project will formally enter Congress, where the ruling party expects to hold one of the most relevant economic and institutional debates of the second semester.