Argentina President Javier Milei Confirms Shutdown of Central Bank

Argentina’s President-elect, Javier Milei, has officially confirmed his intention to close the Central Bank of the Republic Argentina (BCRA), dismissing rumors suggesting otherwise.

The decision is outlined in an official communication from the President-elect’s office, indicating the stance as non-negotiable.

— Oficina del Presidente Javier Milei (@OPEArg) November 24, 2023

The announcement comes as part of broader leadership changes, with economist Osvaldo Giordano heading the National Social Security Administration (ANSES) and engineer Horacio Marín taking charge of state-owned energy company YPF from December 10.

These two organisations will likely undergo privatisation in Javier Milei’s leadership.

Coinlive previously reported on how the 53-year-old President, known for his fiery televised debates, lead the Freedom Advances party to victory in the 2023 Argentinian Elections.

Milei had criticised the BCRA, labeling it a scam and a tool for imposing what he calls an “inflationary tax” on the public.

Milei, an advocate for Bitcoin, views the cryptocurrency as a means to restore control of money to the private sector.

His political ideology aligns with libertarian principles, advocating for minimal government interference in the private sector.

* Original content written by Coinlive. Coinbold is licensed to distribute this content by Coinlive.