In a televised speech addressed to the nation, Argentine president Javier Milei announced that he will present to Parliament a reform of the Central Bank statute focused on monetary austerity to combat inflation.
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The initiative aims to limit some functions of the institute, with restrictions on the distribution of dividends derived from liquidity operations and the elimination of so-called non-transferable securities. The ultraliberal leader stated that the measure is part of a broader reform program.
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In this regard, he announced the creation of the so-called “fiscal constraint,” a mechanism that would trigger a shutdown (the partial blocking of government activities), modeled after the United States, if Congress fails to restore the balance of public accounts.
The new “organic charter” of the Central Bank aims to put an end to the “scam” of money creation, to the “theft perpetrated by politicians” through “currency manipulation to finance the State,” Milei said, who on the occasion again attacked former president Cristina Kirchner, calling her a “convicted corrupt.”
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