Milei pushes Central Bank charter reform for price stability

President Javier Milei has introduced a bill to amend the charter of the Central Bank of Argentina, limiting its mandate exclusively to preserving the value of the currency and removing references to employment, financial stability and broader economic development.

The amendment would require a two‑thirds vote in both chambers of Congress to remove the bank's president or directors and would allow the current leadership to continue beyond the next election. Critics warn that the tighter monetary focus could raise interest rates, restrict credit, and shift the burden of low‑inflation policies onto low‑income workers, raising concerns about unequal distributional costs.