Argentina central bank reform bill clears lower house

Argentina's Chamber of Deputies approved a bill on Wednesday that would limit the central bank's ability to print money, advancing one of President Javier Milei's inflation-focused reforms.

The lower house passed the measure by 144 votes to 109, with nine abstentions. The bill now goes to the Senate.

The proposal would restrict financing of Argentina's Treasury through money creation. If passed by the Senate, it would also limit the Central Bank of Argentina's authority to issue credit to specific sectors of the economy.

Milei thanked national deputies in a post on X and called the vote a fundamental step toward eradicating inflation. Annual inflation in Argentina was in triple digits when Milei took office in 2023 and stood at 33.8% year on year in July, after steep public funding cuts under his government.