Overview
- The president will lay out the text in a cadena nacional on Thursday at 20:00 and the government plans to formally submit the bill to the Chamber of Deputies next week.
- The core reforms would make preserving the value of the currency the Bank’s primary objective and explicitly prohibit the BCRA from financing national, provincial or municipal governments or buying public securities in the primary market.
- The draft tightens institutional protections by requiring a two‑thirds majority in both chambers to remove BCRA authorities and would restrict profit transfers so valuation gains go to non‑distributable reserves and portfolio gains can only be used to retire public debt.
- The administration says the Charter changes will form one pillar of a wider package that includes deficit‑zero fiscal rules and a shutdown mechanism, but passage will demand cross‑party deals and support from governors and opposition lawmakers.
- The text seeks to undo 2012 reforms such as Letras Intransferibles, would add stricter penalties for breaches of bank independence and is presented as part of Argentina’s disinflation strategy and commitments with the IMF.