Central Bank reform: what is the key change that forces the government's bill to return to the Chamber of Deputies

The Senate of Argentina approved a government-backed bill to reform the Central Bank's Organic Charter, introducing modifications to the original initiative proposed by Javier Milei's administration. Because the Senate amended the text, the legislative project must now return to the Chamber of Deputies for a second review.

The key modification introduced by the upper chamber involves the procedure for the appointment and removal of authorities within the Central Bank of the Republic of Argentina (BCRA). Upon its return to the lower house, the Chamber of Deputies will be restricted to either accepting the Senate's modifications in their entirety or insisting on the original text.