Milei led a meeting with LLA legislators to advance the reform of the BCRA's Organic Charter, a project that aims to guarantee the entity's independence
Independence and Governance: Strengthening institutional mechanisms to provide greater stability to the authorities and raising the requirements for the removal of the president and the board, avoiding arbitrary political interventions.
This Monday July 13, in a meeting that lasted for two and a half hours, President Javier Milei led a strategic meeting in the Heroes of Malvinas Hall at the Casa Rosada with national legislators from La Libertad Avanza.
The central objective of the summit was to coordinate the legislative strategy and delve into the technical guidelines of the ambitious reform of the Organic Charter of the Central Bank of the Argentine Republic (BCRA), an initiative aimed at uprooting a scheme that, in the president's words, “has been a scam to Argentines for 91 years”.
During the presentation, the Head of State detailed that the project, designed in coordination with the head of the BCRA, Santiago Bausili, and ministers Luis Caputo (Economy) and Federico Sturzenegger (Deregulation and State Transformation), is based on non-negotiable pillars of economic freedom:
Single Mandate: Establish that the only function of the entity is to preserve the value of the currency.
Prohibition of Financing: Absolute prohibition on financing the National Treasury by the bank.
End of Non-Transferable Bills: Prohibition on the creation of Non-Transferable Treasury Bills, ending the accounting patches of the past.
Discipline in Profits: Restriction on the distribution of profits, allowing it only in exceptional scenarios of deflation.
Regime of Penalties: Toughening of responsibilities and sanctions for those officials who attempt to use monetary issuance to finance the fiscal deficit.
The meeting included the top brass of the ruling party, including the Secretary General of the Presidency, Karina Milei; the Chief of Staff, Diego Santilli; the head of the Chamber of Deputies, Martín Menem; the head of the libertarian bloc in the Senate, Patricia Bullrich; the provisional president of the Senate, Bartolomé Abdala; and the head of the deputy bloc, Gabriel Bornoroni.
In the political sphere, Senator Pablo Cervi highlighted after the meeting that, although “no timelines were discussed”, the determination regarding the idea is total, with the start of its legislative treatment expected after the winter recess. In line with the transformation agenda, Minister Diego Santilli also met with the governor of San Luis, Claudio Poggi, to advance the electoral reform that includes the necessary elimination of the PASO.
Even within the framework of this crucial state agenda, the patriotic spirit was not lacking among the legislators, who referred to the imminent match of the Argentine National Team against England. Deputy Lilia Lemoine summarized the sentiment of the bloc by expressing the desire for a victory under the rule of law, sending a “nice message” of institutional integrity both in sports and in public management.
