Javier Milei unveils Argentina’s central‑bank reform FAST-MOVING

Javier Milei Central Bank reform BCRA prohibit monetary financing shutdown fiscal guard

President Javier Milei presented a comprehensive amendment to the Carta Orgánica of the Banco Central de la República Argentina (BCRA) in a pre‑recorded national broadcast from the Salón Blanco of the Casa Rosada. The proposal seeks to prohibit the Central Bank from issuing money to finance the national Treasury, provincial and municipal budgets, or to purchase public bonds in the primary market. It restores the Bank’s sole mandate to preserve the value of the currency, eliminates the transfer of accounting profits to the Treasury, and bans the use of “letras intransferibles” as a financing tool.

The reform also tightens the removal process for the BCRA president and its directors, requiring a two‑thirds vote in both chambers of Congress, and introduces criminal penalties for officials who violate the Bank’s autonomy or enable prohibited monetary emission. A fiscal “shutdown” mechanism would automatically suspend state spending if budgetary allocations are exhausted. Economy minister Luis Caputo called the initiative “the most important reform of the last hundred years.” The text will be sent to the Chamber of Deputies for debate and voting.

Entities: Banco Central de la República Argentina · Banco Central de la República Argentina (BCRA) · Casa Rosada · Federico Sturzenegger · Javier Milei · Luis Caputo · Salón Blanco de la Casa Rosada · Santiago Bausili · Santiago Oria

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 22 SOURCES] The reform introduces criminal penalties for officials who violate BCRA autonomy or authorize prohibited monetary emission. (reform)
[● 8 SOURCES] The broadcast was recorded in the Salón Blanco of Casa Rosada and produced by filmmaker Santiago Oria. (existing)
[● 10 SOURCES] The reform eliminates the use of letters intransferibles for financing the Treasury. (reform)
[● 22 SOURCES] The reform proposes to prohibit the BCRA from issuing money to finance the fiscal deficit. (supported by all articles)
[● 8 SOURCES] The reform limits the BCRA's mandate to providing liquidity and preserving currency stability. (existing)
[● 9 SOURCES] The reform removes the transfer of fictitious profits (utilidades contables) from the BCRA to the Treasury. (existing)
[● 8 SOURCES] Javier Milei will present a Central Bank reform via a national broadcast on Thursday at 20:00. (multiple articles)
[● 20 SOURCES] The reform tightens removal rules for the BCRA president and directors, requiring a two‑thirds vote of both chambers of Congress. (reform)
[● 18 SOURCES] The reform will make preserving the value of the currency the sole mandate of the BCRA. (reform)
[● 5 SOURCES] The reform prohibits the BCRA from financing the Treasury, provinces, municipalities, and from purchasing public bonds in the primary market. (reform)
[● 18 SOURCES] The reform eliminates the use of letters intransferibles for financing the State. (supported by all articles)
[● 3 SOURCES] The reform makes preserving the value of the currency the sole mandate of the BCRA. (new)