The closure of the Central Bank of Argentina is not subject to negotiation

The objective of closure iArgentina’s central bank “is not subject to negotiation”, The office of the newly elected president of the country, Javier Milei, announced this Friday amid a wave of rumors about the profile of his economic team.

“Given the spread of false rumors, we want to clarify that the closure of the Central Bank of the Republic of Argentina (BCRA) is not subject to negotiation,” said the Office of the President Javier Milei in a statement published on the social network X (formerly Twitter), as it does every day since Monday 20 November, the day after the election.

The note emphasizes that The only official information about the future government led by Javier Milei is that published by this media.

The statement was released amid strong rumors about the possibility that Luis ‘Toto’ Caputo, Secretary of Finance (between 2015 and 2017), Minister of Finance (between 2017 and 2018) and President of the Central Bank (2018) during the government of Mauricio Macri (between 2015 and 2019), joins the Milei government as Minister of Economy.

Speculations about the Central Bank of Argentina
At the moment, Caputo’s eventual landing has not been confirmed by La Libertad Avanza or the former minister himself, but the local press is taking it for granted and it would be the motive for economist Emilio Ocampo’s decision to reverse his decision to accept Miley’s offer to chair the Central Bank .

Short circuit tit would have its foundation in the differences over the plan for the dollarization of the economy, which is Milei During the campaign, he proposed a plan whose execution would include bailing out the Central Bank’s massive debt and then shutting down that entity, putting an end to the monetary issue that the libertarian blames on Argentina’s very high inflation.

While Ocampo defends dollarization, Caputo would not be averse to the idea of ​​fully moving toward this radical turn in Argentina’s monetary policy, a dominant position among those around Macri, who has formed a political alliance with Milei.

Presidency of Central bank It would finally be covered by Demian Reidel, who was vice president of that entity between 2015 and 2018, during the Macri government.

In this scenario, Carlos Rodríguez, one of Milea’s main economic advisers, ended his work in the far-right formation La Libertad Avanza this Friday so that he could “express his opinion freely” without his “ideas having to be linked to a political party.” or a person.”

“I made the decision a long time ago. Today is the optimal moment because Javier appointed the minister of economy and changed the president of the central bank. The house is now in order,” commented the economist on social networks.