President Javier Milei announced on Thursday the details of his plan to reform the Charter of the Argentine Central Bank (in Spanish, BCRA), one of the cornerstones of his economic agenda for the coming months.
He made the announcement on national television, a platform he has used in the past to make economic announcements, such as the presentation of the 2026 budget proposal.
In his address, Milei explained the details of his five-point plan, which seeks to redefine the current role of the monetary authority.
First, the reform aims to establish a single mandate by stripping the BCRA of its current competing objectives: financial and monetary stability, full employment, social equity, and economic development. According to the president, the bank’s “sole responsibility” is preserving the value of the currency.
To prevent future inflationary spikes, the reform will also strictly prohibit the Central Bank from financing government spending. The third point is meant as a safeguard for BCRA’s leadership against arbitrary political dismissal, meant to bolster institutional governance.
