Milei Presents BCRA Reform to End '91 Years of Fraud'

President Javier Milei announced a reform of the Organic Charter of the Central Bank of Argentina (BCRA), aiming to strengthen its independence, restrict monetary financing of the Treasury, and refocus its mission on preserving the value of the currency. The project seeks to end '91 years of fraud' and prevent future governments from using the BCRA to finance public spending through monetary emission, which Milei blames for Argentina's high inflation rates. The reform will be sent to Congress and requires two-thirds of the votes in both chambers to remove the BCRA's president and board. Milei will present the project on national television, accompanied by key economic officials.