Overview
- The Senate will start committee debate Wednesday in a joint session of the Economy and Budget committees to consider the bill that the Chamber of Deputies approved on August 26.
- The proposal defines the Banco Central’s primary mission as preserving the value of the peso, removes powers to direct credit, and restricts the bank’s ability to finance national and provincial governments.
- The law would make presidents and directors of the central bank subject to simple-majority approval by both chambers while requiring a two-thirds vote for removal, a change that opponents say increases congressional control over monetary policy.
- La Libertad Avanza has 21 senators and is seeking votes from PRO, the UCR and provincial senators with Senator Patricia Bullrich coordinating talks after a delay caused by the bill’s several-day hold in Vice President Victoria Villarruel’s office.
- Separately, the BCRA will launch the first ANSES FGS funding tender for mortgages worth 200,000 million pesos under a program that lends to banks for home loans at a capped rate of UVA plus 7.5% and requires banks to place loans within 90 days, with first loans possible by November or December.