Milei moves to strip Argentine central bank of money-printing powers

The proposed legislation mandates a strict prohibition on the central bank financing the Treasury, directly or indirectly. By altering the tenure and appointment protocols for bank officials, the government aims to insulate the institution from the political cycles that have historically fueled Argentina’s cycles of currency depreciation and runaway inflation. Milei identifies this unchecked money creation as the primary driver behind the economic instability that has plagued the nation for decades.

While the administration frames this as a structural solution to the economic crisis, some analysts remain skeptical of the bill's permanence. Because the charter operates under ordinary legislation, future administrations could theoretically reverse these protections with a simple majority. Despite these concerns, the move represents a decisive effort to cement the progress made since 2023, when annual inflation rates reached 211% before trending toward the 30% mark projected for this year.