Overview
- The central bank aims to buy US$10–17 billion in reserves in 2026, capping daily purchases at 5% of MLC turnover while retaining the option for block operations.
- The exchange rate will continue to float between bands that update monthly at the pace of the latest INDEC inflation reading with a two‑month lag.
- Further easing of company restrictions on dividends and pre‑2025 commercial debts will be considered only after progress toward FX market equilibrium and clear Treasury access to global funding.
- Monetary policy will keep a contractive bias while local inflation exceeds international levels, using open‑market operations and repos and continuing to normalize bank reserve requirements.
- The framework describes a re‑monetization phase that supplies pesos primarily through reserve purchases, advances private‑credit growth and payment‑system upgrades, and restores a Quarterly Monetary Policy Report from January.