The Central Bank reform cleared the Chamber of Deputies and still needs the Senate

Nothing has changed yet: this is a bill that cleared the lower house, not a law. What it proposes —and this is how the Executive itself presented it— is to close by statute the two doors through which the Central Bank financed the Treasury: ban unbacked issuance and financing of the fiscal accounts, narrow the Bank's mandate to preserving the value of the currency, and make removing its authorities difficult so that a government cannot replace them when it dislikes the result. The timeline, with dates: on July 30, 2026 Milei presented it in a national broadcast; on August 5 the Finance and the Budget and Treasury committees debated it with Bausili and Werning themselves defending it; on August 12 it obtained a majority committee report with 42 signatures out of 73 deputies present, backed by LLA, PRO, UCR, Producción y Trabajo, Independencia and Innovación Federal; and on August 26 the Chamber passed it and sent it to the Senate. prob · Aug 26, 2026 ↗

Not in force. It passed the Chamber of Deputies on August 26, 2026 and is now in the Senate. Only if the Senate passes it does it become law. prob · Aug 26, 2026 ↗

The Treasury, which would lose the route of financing itself through issuance; the Central Bank itself and its board, whose appointment and removal rules would change; and anyone making decisions beyond a one-year horizon: banks, borrowers, exporters and importers, and every long-lived investment project whose cost of capital hangs on the monetary rule not being changeable by the government of the day. thesis · Aug 12, 2026