Sunday, August 23rd 2026 - 22:41 UTC
The bill also prohibits the purchase of national, provincial or municipal government bonds on the primary market, the mechanism through which the central bank has historically financed the Treasury
Argentina's Chamber of Deputies will on Wednesday debate the reform of the central bank's charter promoted by Javier Milei's government, which bars the monetary authority from financing the fiscal deficit through money creation and restores preservation of the value of the currency as its sole objective.
The bill removes the five functions added to the institution's mandate by the 2012 reform — among them promoting employment and economic development with social equity — and replaces them with a single objective. It also prohibits the purchase of national, provincial or municipal government bonds on the primary market, the mechanism through which the central bank has historically financed the Treasury.
Central bank governor Santiago Bausili and deputy governor Vladimir Werning defended the initiative before the budget and finance committees. They argued the purpose is to shield the institution from the political pressures of successive administrations and to consolidate a structure aimed at preventing a return to high inflation.
