The initiative was presented in the Senate and had access to exclusively. It points to the Upper House and the Governors, via CFI, name members of the Board of Directors. They point out lack of current autonomy and call it “Anti Anker Law” by Caputo and Bausili’s consultant.
A sector of Peronism based in the provinces presented a bill in the Senate to modify the current composition of the Board of Directors of the Central Bank (BCRA)in which it is proposed to reduce from ten to eight members the number of members, of which two places are for representatives of the upper house and one at the proposal of the Federal Investment Council (ICC)organism composed of the governors.
The project is signed by the Catamarqueño Guillermo Andrada, La Jujeña Carolina Moisés and the Rioja Fernando Rejalof the federal conviction block, part of the interlock of union by the country, which is referenced in the Non Kirchner PJ, with provincialist imprint. Its authors call it “Anti Anker Law ”, referring to Luis Caputo and Santiago Bausili’s consultantappointed as head of the BCRA by the first. “It is striking that they ask the autonomy of the Central Bank and handle it among the partners of a consultant,” they told this media. And they added that the number of directors is reduced to be in tune with the idea of austerity that the Casa Rosada proclaimed.
The initiative aims to modify the Law 24,144 And it is known in hot moments in the market, after the electoral defeat of La Libertad Avanza and Javier Milei in the province of Buenos Aires. If the text prosper, article 6 of the norm would be written as follows: “The Central Bank of the Argentine Republic will be governed by a Board of Directors composed of a president, a vice president and six directors. All of them must be native Argentines or by naturalization, with no less than ten years of exercise of citizenship.”
There, it is proposed that the president, the vice president and three of the directors be appointed by the Executive Power with the Senate Agreement. Two others, on behalf of the Senate according to the composition of the camera. And the last one, appointed by the Governors from the nomination proposed by the head of the ICC (Ignacio Lamothe position currently holds).
According to the authors, the project seeks to “restore the autonomy of the BCRA Board of Directors” and pointed out that until 1992 representatives of the provincial banks were included, eliminated after a reform of the Organic Charter. “The exclusion of the representatives of the provinces as an institutional actor in the BCRA has weakened the coordination between monetary policy and federal development of credit and financial inclusion,” says the text in its foundations. And mentions the text of the National Constitution of 1994 which establishes “a Federal Bank with the power to issue currency.”
“Needless to say, the current system fails to capture the specific needs of the provinces or address structural inequalities in access to credit and other financial resources between different geographical areas of our country,” the project authors argue.
Source: Ambito
