Milei pushes reforms at BCRA, money laundering, and private property

President Javier Milei announced on a national broadcast a set of structural reforms that will be sent to Congress. The initiatives cover three axes: the modification of the Central Bank (BCRA) Charter, changes to the Fiscal Innocence Regime, and a bill on the Inviolability of Private Property. The proposals were presented separately, but together they outline the Government’s strategy to consolidate its economic and political model towards 2027.

BCRA reform: autonomy and limits to state financing

According to Crónica, President Milei announced on a national broadcast a set of structural reforms focused on the BCRA Charter. The project seeks to limit the Central Bank’s intervention in state financing and shield its autonomy from the Executive Branch, modifying governance and the requirements for removal of its authorities.

The initiative was presented in the White Hall of the Government House, with the presence of part of the president’s inner circle and the economic team. Sources from the Casa Rosada cited by Crónica indicated that the proposal is «key to the future of the President’s project» and seeks to provide «legal certainty» to financial markets.

The project also includes a parallel initiative that penalizes financing of the National Treasury through monetary issuance, and another that establishes a «state shutdown.» It also mentions the possibility that the Senate votes on the appointment of the BCRA president, Santiago Bausili, to strengthen the custody of the model.

Capital amnesty: changes to the Fiscal Innocence Regime

On the other hand, the Ministry of Economy announced modifications to the Fiscal Innocence Law project. According to the official statement, Minister Luis Caputo and the Legal and Technical Secretary, María Ibarzabal Murphy, presented the changes in a press conference, with the participation of tax experts.

Caputo stated that «the spirit of the law does not change at all» and that the objective remains to formalize savings without penalty. The changes include eliminating the income and asset requirements to access the simplified regime, introducing a minimum threshold for ARCA to break the presumption of accuracy, and the possibility of filing corrective tax returns.

The official statement details that currently dollar deposits in the financial system amount to nearly 40 billion dollars, but there is an amount more than four times that figure in savings outside the banking circuit. Caputo noted that formalizing these resources is beneficial for both citizens and the country.

Inviolability of private property: criticisms and scope

The third initiative is the bill on the Inviolability of Private Property, which according to La Izquierda Diario includes changes in six chapters: foreign ownership of rural land, evictions, expropriations, RENABAP, fires, and property registration.

The outlet’s analysis indicates that the project represents an «absolute shield for the private property of landowners and large capitalists,» by obliging the State to pay «lost profits» with commercial interest and exempting the expropriated from taxes. It also introduces the figure of «indirect expropriation,» which would allow corporations to sue the State for regulations that affect their profits.

Regarding evictions, the project would reduce the payment notice to three days and allow evictions in five days with a mere sworn statement from the owner. It would also eliminate the possibility for tenants to present witnesses in their defense. As for foreign ownership, the concept of «foreigner» is redefined to apply only to other states or public entities, freeing multinational corporations from restrictions.

Comparison of proposals: scope and differences

The three initiatives were presented separately and there is no single document integrating them. However, they share a common objective: to deepen the adjustment and deregulation model promoted by the Government. While the BCRA reform targets monetary policy, the amnesty seeks to formalize savings, and the property law modifies the legal framework regarding land and housing.

The sources differ in tone and level of detail. Crónica focuses on the presidential announcement and political context, the Ministry of Economy offers technical details of the amnesty, and La Izquierda Diario provides a detailed critique of the private property project. There are no contradictions among the sources, but there are differences in emphasis and interpretation.

What to follow

The key point to follow is the legislative treatment of these projects. The BCRA reform and the Inviolability of Private Property law are initiatives that require a qualified majority in Congress, so their progress will depend on negotiation with other blocs. In particular, the modification of the BCRA Charter could face resistance in the Senate, where the ruling party does not have its own majority.

Methodological note: The table compares the three initiatives according to the information available in the cited sources. The scopes are summaries of the main points identified in each source. The status refers to the processing stage as reported.