President Javier Milei advances central‑bank reform and foreign trips

President Javier Milei convened a cabinet meeting at the Casa Rosada after the July 9 Independence Day Tedeum, using the occasion to present the draft reform of the Carta Orgánica of the Banco Central de la República Argentina (BCRA). The proposal would strip the central bank of its five‑objective mandate, limit it to preserving the peso’s value, prohibit any financing of the fiscal deficit, strengthen the board’s independence (with Milei saying violations should be punishable by prison), end the distribution of dividends and abolish non‑transferable Treasury letters.

Milei defended his economic record, claiming consumption and exports are at historic highs and that the government has eliminated the need for external bond issues by paying a $4 billion dollar debt tranche using domestic markets and boosted foreign‑exchange reserves. He also noted increased transfers to state firms such as Aysa, Enarsa and Arsat as part of a broader privatization push.

In parallel, Milei announced a July 25 trip to Brazil to back Senate candidate Flavio Bolsonaro, with additional stops planned for Ecuador, Peru and Colombia to attend presidential inaugurations. He framed the Brazil visit as support for a candidate opposing incumbent President Luiz Inácio Lula da Silva.